Plato Investment Management Ltd Boosts Holdings in PPG Industries, Inc. (NYSE:PPG)

Plato Investment Management Ltd increased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,956 shares of the specialty chemicals company’s stock after acquiring an additional 751 shares during the quarter. Plato Investment Management Ltd’s holdings in PPG Industries were worth $3,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PPG. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the second quarter worth about $25,000. Private Wealth Management Group LLC purchased a new position in PPG Industries during the 4th quarter worth approximately $27,000. LifeSteps Financial Inc. acquired a new position in PPG Industries during the first quarter worth approximately $29,000. YHB Investment Advisors Inc. acquired a new position in PPG Industries during the first quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. purchased a new stake in PPG Industries in the fourth quarter valued at approximately $29,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PPG shares. Barclays cut their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets dropped their price objective on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Citigroup decreased their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. KeyCorp dropped their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, UBS Group increased their price objective on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Trading Up 1.2 %

Shares of PPG stock opened at $126.98 on Friday. The business’s fifty day moving average price is $125.73 and its 200 day moving average price is $131.23. The firm has a market capitalization of $29.78 billion, a PE ratio of 21.45, a P/E/G ratio of 1.69 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 1-year low of $118.07 and a 1-year high of $151.16.

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

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were issued a $0.68 dividend. The ex-dividend date was Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a yield of 2.14%. PPG Industries’s dividend payout ratio (DPR) is 45.95%.

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.