Bennett Associates Wealth Management Invests $309,000 in PPG Industries, Inc. (NYSE:PPG)

Bennett Associates Wealth Management purchased a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,823 shares of the specialty chemicals company's stock, valued at approximately $309,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. Vanguard Group Inc. boosted its stake in PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after purchasing an additional 756,937 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of PPG Industries by 17.7% during the 4th 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 last quarter. Geode Capital Management LLC boosted its position in shares of PPG Industries by 1.7% during the 4th 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 last quarter. Invesco Ltd. boosted its position in shares of PPG Industries by 6.1% during the 4th 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 last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of PPG Industries by 482.2% during the 4th 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 last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. UBS Group boosted their price target on shares of PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company boosted their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $128.42.

PPG Industries Stock Down 0.1%

Shares of PPG stock traded down $0.09 during trading hours on Thursday, reaching $111.84. 541,599 shares of the stock were exchanged, compared to its average volume of 1,817,599. The business's fifty day moving average is $106.40 and its two-hundred day moving average is $114.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The firm has a market capitalization of $25.39 billion, a P/E ratio of 23.64, a P/E/G ratio of 2.19 and a beta of 1.17.

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

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a $0.68 dividend. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.43%. PPG Industries's dividend payout ratio is currently 58.24%.

PPG Industries 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.