Azzad Asset Management Inc. ADV Makes New $2.86 Million Investment in PPG Industries, Inc. (NYSE:PPG)

Azzad Asset Management Inc. ADV acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,184 shares of the specialty chemicals company's stock, valued at approximately $2,863,000.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the period. Wellington Management Group LLP boosted its position in shares of PPG Industries by 17.7% in the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after acquiring an additional 1,590,041 shares during the period. Geode Capital Management LLC boosted its position in shares of PPG Industries by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after acquiring an additional 93,455 shares during the period. Invesco Ltd. boosted its position in shares of PPG Industries by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock valued at $564,596,000 after acquiring an additional 271,699 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of PPG Industries by 482.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock valued at $518,132,000 after acquiring an additional 3,592,655 shares during the period. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on PPG shares. Fermium Researc raised PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. reduced their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Bank of America reaffirmed a "neutral" rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Finally, Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $129.83.

PPG Industries Price Performance

Shares of NYSE PPG traded down $5.78 during midday trading on Friday, reaching $106.25. 2,499,615 shares of the company traded hands, compared to its average volume of 1,831,065. The firm has a market cap of $24.12 billion, a PE ratio of 22.46, a PEG ratio of 2.19 and a beta of 1.17. The stock's 50-day simple moving average is $107.69 and its 200-day simple moving average is $113.50. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.10. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The firm's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 EPS. As a group, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.56%. PPG Industries's dividend payout ratio (DPR) is 58.24%.

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.