Fiduciary Family Office LLC Purchases New Position in PPG Industries, Inc. (NYSE:PPG)

Key Points

• Fiduciary Family Office LLC has made a new investment in PPG Industries, acquiring 2,453 shares valued at approximately $268,000 during the first quarter.
• Institutional investors have significantly increased their holdings in PPG Industries, with Kovitz Investment Group increasing by 482.2% and Price T Rowe Associates increasing by 815.4% in the fourth quarter.
• PPG Industries recently announced a quarterly dividend increase to $0.71 per share, up from $0.68, reflecting a positive trend in its financial performance.

Fiduciary Family Office LLC bought a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,453 shares of the specialty chemicals company's stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPG. Park Square Financial Group LLC bought a new stake in shares of PPG Industries during the fourth quarter worth about $26,000. Cheviot Value Management LLC bought a new stake in shares of PPG Industries during the first quarter worth about $26,000. CVA Family Office LLC increased its position in shares of PPG Industries by 70.6% during the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 113 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of PPG Industries during the first quarter worth about $30,000. Finally, Financial Connections Group Inc. increased its position in shares of PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 150 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PPG shares. Royal Bank Of Canada boosted their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. reduced their price objective 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. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. UBS Group upped their price objective on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Finally, Mizuho upped their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $129.82.

PPG Industries Stock Performance

Shares of PPG Industries stock traded up $3.79 on Wednesday, reaching $112.54. 2,048,660 shares of the company traded hands, compared to its average volume of 2,093,673. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a 50 day moving average of $112.43 and a 200 day moving average of $111.01. The firm has a market capitalization of $25.40 billion, a PE ratio of 25.52, a PEG ratio of 2.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, meeting analysts' consensus estimates of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the firm earned $2.50 EPS. The company's revenue was down .9% compared to the same quarter last year. Equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is currently 64.40%.

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.