Cetera Investment Advisers Has $4.75 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Key Points

• Cetera Investment Advisers increased its position in PPG Industries by 25.9% during the first quarter, owning 43,415 shares valued at approximately $4.75 million.
• PPG Industries recently announced a quarterly dividend increase to $0.71 per share, reflecting a yield of 2.7% and a payout ratio of 61.68%.
• Analysts have mixed ratings on PPG Industries with a consensus rating of "Moderate Buy" and an average price target of $129.82 per share.

Cetera Investment Advisers raised its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 25.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,415 shares of the specialty chemicals company's stock after acquiring an additional 8,929 shares during the period. Cetera Investment Advisers' holdings in PPG Industries were worth $4,747,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. LRI Investments LLC increased its holdings in PPG Industries by 25.3% during the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock worth $54,000 after purchasing an additional 92 shares in the last quarter. Conning Inc. increased its holdings in PPG Industries by 5.5% during the 1st quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company's stock worth $206,000 after purchasing an additional 98 shares in the last quarter. Beacon Capital Management LLC increased its holdings in 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. Chilton Capital Management LLC increased its holdings in PPG Industries by 22.6% during the 1st quarter. Chilton Capital Management LLC now owns 576 shares of the specialty chemicals company's stock worth $63,000 after purchasing an additional 106 shares in the last quarter. Finally, Snowden Capital Advisors LLC increased its holdings in PPG Industries by 3.7% during the 4th quarter. Snowden Capital Advisors LLC now owns 3,147 shares of the specialty chemicals company's stock worth $376,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Trading Down 1.0%

Shares of PPG stock opened at $104.40 on Friday. The firm has a 50 day moving average price of $113.06 and a two-hundred day moving average price of $111.75. The company has a quick ratio of 0.99, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $23.56 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.18 and a beta of 1.17. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month 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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.22. The firm 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 business's revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the business posted $2.50 earnings per share. As a group, analysts predict 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. Shareholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.7%. This is a boost from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date is Monday, August 11th. PPG Industries's dividend payout ratio (DPR) is 61.68%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PPG. Citigroup raised their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. Deutsche Bank Aktiengesellschaft raised their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. UBS Group raised their price objective on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Bank of America restated a "neutral" rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and an average price target of $129.82.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.