Banque Cantonale Vaudoise Acquires New Holdings in PPG Industries, Inc. (NYSE:PPG)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in PPG Industries, purchasing 13,673 shares valued at approximately $1.50 million.
• PPG Industries recently increased its quarterly dividend to $0.71, reflecting an annualized dividend of $2.84 and a yield of 2.67%.
• Institutional investors now own 81.86% of PPG's stock, following significant increases in stakes by multiple hedge funds.

Banque Cantonale Vaudoise purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,673 shares of the specialty chemicals company's stock, valued at approximately $1,496,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PPG. Park Square Financial Group LLC acquired a new position in shares of PPG Industries during the 4th quarter worth approximately $26,000. CVA Family Office LLC grew its position in shares of PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 113 shares in the last quarter. Beacon Capital Management LLC grew its position in shares of PPG Industries by 37.1% during the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock worth $41,000 after purchasing an additional 101 shares in the last quarter. Cromwell Holdings LLC grew its position in shares of PPG Industries by 88.0% during the 1st quarter. Cromwell Holdings LLC now owns 393 shares of the specialty chemicals company's stock worth $43,000 after purchasing an additional 184 shares in the last quarter. Finally, CX Institutional acquired a new position in shares of PPG Industries during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PPG. Royal Bank Of Canada increased their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday. Mizuho increased their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. UBS Group increased their target price on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of "Moderate Buy" and an average price target of $129.82.

PPG Industries Price Performance

NYSE:PPG traded down $1.10 on Friday, hitting $104.40. The company had a trading volume of 1,989,134 shares, compared to its average volume of 1,946,785. The stock has a market capitalization of $23.56 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 2.20 and a beta of 1.17. The company has a current ratio of 1.42, a quick ratio of 0.99 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average of $113.06 and a two-hundred day moving average of $111.79. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24.

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

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.7%. 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. PPG Industries's payout ratio is currently 61.68%.

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.