Chicago Capital LLC Buys New Holdings in PPG Industries, Inc. (NYSE:PPG)

Chicago Capital LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,126 shares of the specialty chemicals company's stock, valued at approximately $451,000.

A number of other large investors also recently modified their holdings of PPG. Vanguard Group Inc. raised its stake in PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after purchasing an additional 756,937 shares in the last quarter. Wellington Management Group LLP raised its stake in PPG Industries by 17.7% in the fourth 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 in the last quarter. Geode Capital Management LLC raised its stake in PPG Industries by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after purchasing an additional 93,455 shares in the last quarter. Invesco Ltd. raised its stake in PPG Industries by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock valued at $564,596,000 after purchasing an additional 271,699 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in PPG Industries by 482.2% in the fourth 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 in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PPG shares. Wells Fargo & Company raised their target price on shares of PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Citigroup boosted their target price on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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 analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $129.83.

PPG Industries Stock Up 0.4%

PPG traded up $0.47 on Friday, hitting $108.71. The company had a trading volume of 3,962,370 shares, compared to its average volume of 1,850,494. The stock has a fifty day moving average price of $108.57 and a 200-day moving average price of $112.84. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The stock has a market capitalization of $24.68 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 2.46 and a beta of 1.17.

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 for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the previous year, the firm earned $1.87 earnings per share. The company's revenue was down 4.3% on a year-over-year basis. Analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.50%. PPG Industries's payout ratio is 58.24%.

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.