571 Shares in PPG Industries, Inc. (NYSE:PPG) Bought by USA Financial Formulas

USA Financial Formulas purchased a new stake in PPG Industries, Inc. (NYSE:PPG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 571 shares of the specialty chemicals company’s stock, valued at approximately $76,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PPG. Financial Connections Group Inc. acquired a new position in shares of PPG Industries in the 2nd quarter valued at about $25,000. Richardson Financial Services Inc. purchased a new position in PPG Industries during the fourth quarter valued at approximately $29,000. Riverview Trust Co acquired a new position in PPG Industries in the first quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new stake in shares of PPG Industries during the 2nd quarter worth approximately $37,000. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of PPG Industries during the 4th quarter valued at approximately $45,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.1 %

Shares of PPG opened at $127.34 on Friday. The stock has a 50 day moving average price of $125.97 and a 200 day moving average price of $129.77. PPG Industries, Inc. has a one year low of $118.07 and a one year 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 has a market capitalization of $29.71 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its earnings results 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. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.25 earnings per share. Equities research analysts forecast that PPG Industries, Inc. will post 8.24 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Bank of America lowered their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets dropped their target price on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada cut their price target on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. Citigroup lowered their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, KeyCorp cut their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus price target 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.