USA Financial Formulas Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

USA Financial Formulas acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 571 shares of the specialty chemicals company’s stock, valued at approximately $76,000.

Several other large investors have also recently made changes to their positions in the company. Financial Connections Group Inc. bought a new stake in PPG Industries in the 2nd quarter worth approximately $25,000. Richardson Financial Services Inc. purchased a new stake in PPG Industries during the fourth quarter valued at $29,000. Riverview Trust Co purchased a new stake in PPG Industries during the first quarter valued at $34,000. Rothschild Investment LLC purchased a new position in shares of PPG Industries in the 2nd quarter worth $37,000. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of PPG Industries in the 4th quarter worth $45,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $127.34 on Friday. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a market capitalization of $29.71 billion, a PE ratio of 20.88, a P/E/G ratio of 1.72 and a beta of 1.26. 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 company has a 50-day simple moving average of $125.97 and a two-hundred day simple moving average of $129.77.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share 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 the consensus estimate of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $2.25 earnings per share. Research analysts expect that PPG Industries, Inc. will post 8.24 EPS for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio (DPR) is currently 44.59%.

Analyst Ratings Changes

PPG has been the subject of a number of analyst reports. Citigroup lowered their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. UBS Group lifted their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Barclays lowered their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Bank of America decreased 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. Finally, Royal Bank of Canada cut their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

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.