Exchange Traded Concepts LLC Boosts Stake in PPG Industries, Inc. (NYSE:PPG)

Exchange Traded Concepts LLC raised its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 1,165.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,627 shares of the specialty chemicals company's stock after buying an additional 10,708 shares during the period. Exchange Traded Concepts LLC's holdings in PPG Industries were worth $1,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Park Square Financial Group LLC acquired a new stake in shares of PPG Industries in the 4th quarter valued at $26,000. CVA Family Office LLC grew its position in PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 113 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of PPG Industries in the fourth quarter valued at about $36,000. CX Institutional purchased a new stake in shares of PPG Industries in the first quarter valued at about $44,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of PPG Industries in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. UBS Group upped their price objective on PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft upped their price objective on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.83.

PPG Industries Trading Up 0.6%

PPG Industries stock opened at $108.18 on Thursday. The firm's 50-day moving average is $108.22 and its 200-day moving average is $113.18. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The company has a market cap of $24.56 billion, a P/E ratio of 23.16, a PEG ratio of 2.43 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data 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 net margin of 6.49% and a return on equity of 24.84%. The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter last year, the company earned $1.87 EPS. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders 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 annualized dividend and a yield of 2.51%. PPG Industries's payout ratio is 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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