9,063 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Financial Harvest LLC

Financial Harvest LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,063 shares of the specialty chemicals company's stock, valued at approximately $991,000. PPG Industries makes up approximately 0.7% of Financial Harvest LLC's holdings, making the stock its 16th largest position.

Several other institutional investors also recently modified their holdings of PPG. Brighton Jones LLC raised its stake in PPG Industries by 9.1% during the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock valued at $487,000 after purchasing an additional 339 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PPG Industries during the 4th quarter valued at $315,000. Royal London Asset Management Ltd. grew its holdings in shares of PPG Industries by 3.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 100,283 shares of the specialty chemicals company's stock valued at $11,979,000 after acquiring an additional 2,988 shares in the last quarter. iA Global Asset Management Inc. grew its holdings in shares of PPG Industries by 16.3% during the 4th quarter. iA Global Asset Management Inc. now owns 12,947 shares of the specialty chemicals company's stock valued at $1,547,000 after acquiring an additional 1,810 shares in the last quarter. Finally, HUB Investment Partners LLC bought a new stake in PPG Industries in the fourth quarter worth $395,000. Institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PPG shares. Bank of America reaffirmed a "neutral" rating and set a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Mizuho upped their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. UBS Group increased their price target 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, Wells Fargo & Company upped their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 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 stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.42.

PPG Industries Price Performance

PPG traded down $1.51 on Friday, reaching $114.51. The company had a trading volume of 5,187,043 shares, compared to its average volume of 1,856,189. The business has a 50 day simple moving average of $113.18 and a 200 day simple moving average of $111.99. The company has a market cap of $25.99 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 2.40 and a beta of 1.16. 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 52-week low of $90.24 and a 52-week high of $137.24.

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 6.49% and a return on equity of 24.84%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm posted $1.87 earnings per share. The business's revenue was down 4.3% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 annualized dividend and a yield of 2.48%. This is a boost from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is 60.81%.

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.