ASR Vermogensbeheer N.V. Purchases Shares of 290,384 PPG Industries, Inc. (NYSE:PPG)

Key Points

• ASR Vermogensbeheer N.V. has acquired 290,384 shares of PPG Industries, Inc. worth approximately $31.75 million, representing 0.13% of the company's total shares.
• Several research firms have recently increased their target prices for PPG Industries, with Wells Fargo raising it from $125 to $135 and Citigroup from $125 to $130, suggesting a positive outlook for the company.
• PPG Industries announced an increase in its quarterly dividend to $0.71 per share, up from $0.68, indicating a commitment to returning value to shareholders.

ASR Vermogensbeheer N.V. purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 290,384 shares of the specialty chemicals company's stock, valued at approximately $31,754,000. ASR Vermogensbeheer N.V. owned 0.13% of PPG Industries at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in PPG Industries by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock valued at $27,311,000 after acquiring an additional 1,697 shares during the period. Clear Creek Financial Management LLC bought a new stake in shares of PPG Industries in the first quarter valued at about $240,000. Principal Financial Group Inc. lifted its stake in shares of PPG Industries by 4.4% in the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock valued at $33,129,000 after buying an additional 12,650 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of PPG Industries by 966.3% in the first quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock valued at $97,000 after buying an additional 802 shares during the period. Finally, Revisor Wealth Management LLC lifted its stake in shares of PPG Industries by 95.8% in the first quarter. Revisor Wealth Management LLC now owns 4,435 shares of the specialty chemicals company's stock valued at $485,000 after buying an additional 2,170 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PPG shares. Wells Fargo & Company increased their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Citigroup increased their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. UBS Group increased their target price on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PPG Industries has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Stock Performance

NYSE PPG opened at $106.07 on Wednesday. The firm has a market cap of $23.94 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.17 and a beta of 1.17. The company has a 50 day moving average of $112.83 and a 200-day moving average of $111.55. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company's revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $2.50 earnings per share. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries's dividend payout ratio (DPR) is 61.68%.

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.

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