Friedenthal Financial Acquires Shares of 9,009 PPG Industries, Inc. (NYSE:PPG)

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

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after buying an additional 756,937 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $2,543,000. FourThought Financial Partners LLC purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $458,000. Bell Asset Management Ltd purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $6,955,000. Finally, Impax Asset Management Group plc boosted its position in shares of PPG Industries by 7.0% during the fourth quarter. Impax Asset Management Group plc now owns 254,358 shares of the specialty chemicals company's stock valued at $30,383,000 after buying an additional 16,567 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PPG. UBS Group boosted their price objective on PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Royal Bank Of Canada boosted their price objective on PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Fermium Researc raised PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PPG Industries currently has an average rating of "Moderate Buy" and an average target price of $129.83.

PPG Industries Stock Performance

NYSE:PPG opened at $108.18 on Thursday. 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. The firm has a market cap of $24.56 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 2.43 and a beta of 1.17. The business's fifty day moving average is $108.22 and its 200 day moving average is $113.18.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) 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 period in the previous year, the company posted $1.87 EPS. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. Research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid 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 dividend yield of 2.51%. PPG Industries's payout ratio is 58.24%.

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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