PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 14.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,913 shares of the specialty chemicals company’s stock after acquiring an additional 1,241 shares during the period. Confluence Wealth Services Inc.’s holdings in PPG Industries were worth $1,248,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PPG. Vanguard Group Inc. boosted its stake in shares of PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after acquiring an additional 4,222,402 shares during the last quarter. Norges Bank acquired a new stake in shares of PPG Industries during the 4th quarter worth about $554,685,000. Charles Schwab Investment Management Inc. grew its holdings in shares of PPG Industries by 37.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,839,000 shares of the specialty chemicals company’s stock worth $270,876,000 after buying an additional 496,998 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of PPG Industries by 30.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,768,094 shares of the specialty chemicals company’s stock valued at $264,424,000 after buying an additional 417,145 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of PPG Industries by 549.0% in the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after buying an additional 216,675 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. KeyCorp lowered their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Citigroup dropped their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets decreased their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Bank of America cut their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Barclays lowered their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Stock Up 0.7 %

Shares of NYSE:PPG traded up $0.89 during trading on Friday, hitting $129.73. The company’s stock had a trading volume of 2,175,023 shares, compared to its average volume of 1,348,386. The company has a market capitalization of $30.27 billion, a PE ratio of 21.91, a PEG ratio of 1.75 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The stock’s 50-day moving average price is $125.51 and its two-hundred day moving average price is $132.32.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.48 by $0.02. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 EPS. As a group, sell-side analysts expect that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be given a $0.68 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.10%. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is presently 45.95%.

About PPG Industries

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.