PPG Industries, Inc. (NYSE:PPG) Shares Sold by Cwm LLC

CWM LLC reduced its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 22.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,304 shares of the specialty chemicals company's stock after selling 3,477 shares during the period. CWM LLC's holdings in PPG Industries were worth $1,345,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of PPG Industries in the fourth quarter worth about $470,535,000. Kovitz Investment Group Partners LLC grew its stake in shares of 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 worth $518,132,000 after purchasing an additional 3,592,655 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of PPG Industries by 815.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock worth $362,074,000 after purchasing an additional 2,700,018 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of 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 worth $1,262,234,000 after purchasing an additional 1,590,041 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of 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 worth $3,508,210,000 after purchasing an additional 756,937 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Citigroup boosted their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Bank of America reiterated a "neutral" rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Finally, UBS Group boosted their target price on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $131.42.

PPG Industries Stock Up 0.7%

PPG stock traded up $0.83 during trading on Tuesday, hitting $115.35. 1,679,002 shares of the company's stock traded hands, compared to its average volume of 1,852,340. The firm has a market capitalization of $26.18 billion, a P/E ratio of 24.70, a PEG ratio of 2.40 and a beta of 1.16. The business has a fifty day simple moving average of $113.18 and a two-hundred day simple moving average of $111.96. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period last year, the company posted $1.87 earnings per share. PPG Industries's revenue was down 4.3% compared to the same quarter last year. Sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.46%. PPG Industries's payout ratio is 58.24%.

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.