Capital Investment Advisors LLC Has $1.97 Million Position in PPG Industries, Inc. (NYSE:PPG)

Capital Investment Advisors LLC cut its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 62.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,014 shares of the specialty chemicals company's stock after selling 29,797 shares during the quarter. Capital Investment Advisors LLC's holdings in PPG Industries were worth $1,970,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPG. Norges Bank acquired a new position in shares of PPG Industries in the 4th quarter valued at approximately $470,535,000. Kovitz Investment Group Partners LLC grew its holdings 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 purchasing an additional 3,592,655 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of PPG Industries by 815.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock valued at $362,074,000 after purchasing an additional 2,700,018 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of PPG Industries by 138.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company's stock valued at $381,876,000 after purchasing an additional 1,858,895 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings 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 purchasing an additional 1,590,041 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on PPG. Argus lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. UBS Group lifted their price target on shares of PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Bank of America reaffirmed a "neutral" rating and set a $126.00 price target (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Nine research analysts have rated the stock with a hold rating, six have assigned 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 an average target price of $128.42.

PPG Industries Trading Up 1.3%

PPG opened at $112.66 on Monday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market capitalization of $25.57 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 2.19 and a beta of 1.17. The company's 50 day moving average price is $106.52 and its two-hundred day moving average price is $113.78.

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 analysts' consensus estimates of $1.62 by $0.10. The firm 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 company's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.87 EPS. As a group, research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a $0.68 dividend. The ex-dividend date is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.41%. PPG Industries's dividend payout ratio (DPR) 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.

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