9,009 Shares in PPG Industries, Inc. (NYSE:PPG) Bought by Friedenthal Financial

Friedenthal Financial acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,009 shares of the specialty chemicals company's stock, valued at approximately $985,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock worth $487,000 after purchasing an additional 339 shares during the period. Allspring Global Investments Holdings LLC grew its stake in PPG Industries by 25.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 19,165 shares of the specialty chemicals company's stock worth $2,212,000 after purchasing an additional 3,843 shares during the period. Van ECK Associates Corp grew its stake in PPG Industries by 0.7% during the fourth quarter. Van ECK Associates Corp now owns 40,064 shares of the specialty chemicals company's stock worth $4,785,000 after purchasing an additional 263 shares during the period. Vontobel Holding Ltd. grew its stake in PPG Industries by 6.8% during the fourth quarter. Vontobel Holding Ltd. now owns 3,658 shares of the specialty chemicals company's stock worth $437,000 after purchasing an additional 232 shares during the period. Finally, Principal Financial Group Inc. grew its stake in PPG Industries by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 290,312 shares of the specialty chemicals company's stock worth $34,678,000 after purchasing an additional 11,408 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on PPG shares. Bank of America reaffirmed a "neutral" rating and set a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Wells Fargo & Company upped their target price on PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $129.83.

PPG Industries Stock Up 0.4%

Shares of PPG stock traded up $0.47 during trading hours on Friday, reaching $108.71. The company had a trading volume of 3,962,370 shares, compared to its average volume of 1,850,494. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.99. The business has a fifty day simple moving average of $108.57 and a 200-day simple moving average of $112.84. The company has a market cap of $24.68 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the company earned $1.87 earnings per share. The company's revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.50%. PPG Industries's dividend payout ratio (DPR) is currently 58.24%.

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.