Impax Asset Management Group plc Reduces Holdings in PPG Industries, Inc. (NYSE:PPG)

Impax Asset Management Group plc reduced its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 92.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,553 shares of the specialty chemicals company's stock after selling 235,805 shares during the period. Impax Asset Management Group plc's holdings in PPG Industries were worth $2,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. Park Square Financial Group LLC purchased a new position in shares of PPG Industries in the 4th quarter worth approximately $26,000. CVA Family Office LLC boosted its stake 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 during the period. Prudent Man Investment Management Inc. purchased a new position in shares of PPG Industries during the 4th quarter worth about $36,000. Beacon Capital Management LLC boosted its stake in shares of PPG Industries by 37.1% during the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock worth $41,000 after purchasing an additional 101 shares during the period. Finally, Millstone Evans Group LLC purchased a new position in shares of PPG Industries during the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PPG shares. UBS Group boosted their target price on PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Citigroup boosted their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PPG Industries has a consensus rating of "Moderate Buy" and a consensus price target of $130.67.

PPG Industries Stock Performance

Shares of PPG Industries stock traded down $2.13 during midday trading on Monday, hitting $116.15. The company had a trading volume of 169,364 shares, compared to its average volume of 1,851,814. The company has a fifty day simple moving average of $111.45 and a 200 day simple moving average of $112.19. The stock has a market cap of $26.37 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 2.48 and a beta of 1.16. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month 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.

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

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders 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 2.34%. PPG Industries's payout ratio is currently 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.