Farther Finance Advisors LLC Boosts Stake in PPG Industries, Inc. (NYSE:PPG)

Farther Finance Advisors LLC boosted its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 142.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,526 shares of the specialty chemicals company's stock after buying an additional 3,243 shares during the period. Farther Finance Advisors LLC's holdings in PPG Industries were worth $602,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PPG. Park Square Financial Group LLC purchased a new position in shares of PPG Industries in the fourth quarter valued at $26,000. Prudent Man Investment Management Inc. bought a new position in PPG Industries during the fourth quarter valued at $36,000. Millstone Evans Group LLC bought a new position in PPG Industries during the fourth quarter valued at $46,000. Human Investing LLC purchased a new position in shares of PPG Industries in the 4th quarter worth $48,000. Finally, Centricity Wealth Management LLC bought a new stake in shares of PPG Industries in the 4th quarter worth about $48,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $106.25 on Friday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a market capitalization of $24.12 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. The stock's fifty day moving average is $107.69 and its two-hundred day moving average is $113.44. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the firm posted $1.87 EPS. The firm's revenue was down 4.3% compared to the same quarter last year. As a group, analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business 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. This represents a $2.72 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Monday, May 12th. PPG Industries's dividend payout ratio is presently 58.24%.

Analysts Set New Price Targets

A number of research analysts recently commented on PPG shares. Wells Fargo & Company increased their price target on shares of PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. UBS Group raised their price objective on PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Nine research 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's stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.83.

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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