First Fiduciary Investment Counsel Inc. Has $7.88 Million Position in PPG Industries, Inc. (NYSE:PPG)

First Fiduciary Investment Counsel Inc. lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,036 shares of the specialty chemicals company's stock after selling 3,186 shares during the quarter. First Fiduciary Investment Counsel Inc.'s holdings in PPG Industries were worth $7,877,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth approximately $26,000. CVA Family Office LLC grew its holdings in 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 buying an additional 113 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in PPG Industries in the 4th quarter valued at $36,000. Beacon Capital Management LLC raised its position in PPG Industries by 37.1% in the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock valued at $41,000 after buying an additional 101 shares during the last quarter. Finally, CX Institutional bought a new position in PPG Industries during the 1st quarter valued at $44,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Price Performance

NYSE PPG opened at $114.20 on Monday. The company has a market cap of $25.92 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17. PPG Industries, Inc. has a 52 week low of $69.00 and a 52 week high of $137.24. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. The firm's 50-day simple moving average is $109.94 and its two-hundred day simple moving average is $112.36.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The company's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.87 earnings per share. Research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Monday, May 12th. PPG Industries's payout ratio is presently 58.24%.

Analysts Set New Price Targets

PPG has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Bank of America restated a "neutral" rating and set a $126.00 price target (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Argus lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Seaport Res Ptn cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Nine research 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 stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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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