CHICAGO TRUST Co NA Purchases 380 Shares of PPG Industries, Inc. (NYSE:PPG)

CHICAGO TRUST Co NA increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 13.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,285 shares of the specialty chemicals company’s stock after buying an additional 380 shares during the period. CHICAGO TRUST Co NA’s holdings in PPG Industries were worth $414,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PPG. Private Wealth Management Group LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth $27,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of PPG Industries during the 4th quarter valued at about $29,000. LifeSteps Financial Inc. acquired a new stake in PPG Industries during the first quarter worth approximately $29,000. YHB Investment Advisors Inc. bought a new stake in PPG Industries in the first quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. bought a new position in shares of PPG Industries during the 4th quarter worth approximately $29,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Bank of America lowered their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. StockNews.com upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Seaport Res Ptn raised PPG Industries from a “neutral” rating to a “buy” rating in a research note on Monday, April 22nd. UBS Group raised their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, KeyCorp decreased their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Stock Up 0.0 %

Shares of NYSE PPG traded up $0.01 during trading on Friday, hitting $119.24. The stock had a trading volume of 1,092,940 shares, compared to its average volume of 1,779,276. The firm has a fifty day moving average of $127.05 and a two-hundred day moving average of $134.10. The company has a market capitalization of $27.82 billion, a PE ratio of 20.14, a PEG ratio of 1.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the prior year, the firm posted $2.25 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, August 12th. PPG Industries’s payout ratio is presently 43.92%.

PPG Industries declared that its board has approved a stock repurchase plan on Thursday, April 18th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.