Hixon Zuercher LLC Buys 4,058 Shares of PPG Industries, Inc. (NYSE:PPG)

Hixon Zuercher LLC raised its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 26.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,536 shares of the specialty chemicals company's stock after purchasing an additional 4,058 shares during the quarter. Hixon Zuercher LLC's holdings in PPG Industries were worth $2,136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new position in PPG Industries during the fourth quarter worth $26,000. CVA Family Office LLC lifted its position in PPG Industries by 70.6% during the 1st 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. acquired a new position in shares of PPG Industries during the 4th quarter worth about $36,000. Beacon Capital Management LLC grew its holdings in shares of 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 acquiring an additional 101 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of PPG Industries in the first quarter valued at about $44,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Stock Performance

Shares of NYSE:PPG traded down $0.31 during trading on Friday, reaching $118.28. 796,208 shares of the stock were exchanged, compared to its average volume of 1,855,243. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The stock has a 50-day moving average price of $111.14 and a 200-day moving average price of $112.33. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The firm has a market cap of $26.85 billion, a PE ratio of 25.33, a PEG ratio of 2.48 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last released 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. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the company posted $1.87 EPS. The firm's quarterly revenue was down 4.3% on a year-over-year basis. Research analysts expect that PPG Industries, Inc. will post 7.95 EPS 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 paid a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.30%. PPG Industries's dividend payout ratio (DPR) is presently 58.24%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Fermium Researc raised PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. UBS Group increased their price objective on PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Royal Bank Of Canada upped their price target on shares of PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Finally, Bank of America reissued a "neutral" rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, PPG Industries presently has an average rating of "Moderate Buy" and a consensus price target of $130.67.

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.