IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in PPG Industries by 10.3%, acquiring an additional 6,468 shares, bringing its total holdings to 69,111 shares valued at approximately $7.56 million.
• PPG Industries declared a quarterly dividend of $0.71, representing a 2.7% dividend yield, which is an increase from the previous dividend of $0.68.
• Several analysts have raised their price targets for PPG Industries, with a consensus average target of $129.82, signifying a generally positive outlook among equity research analysts.

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 10.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,111 shares of the specialty chemicals company's stock after buying an additional 6,468 shares during the period. PPG Industries accounts for about 0.9% of IQ EQ FUND MANAGEMENT IRELAND Ltd's portfolio, making the stock its 22nd largest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in PPG Industries were worth $7,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. LRI Investments LLC increased its position in PPG Industries by 25.3% in the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock valued at $54,000 after acquiring an additional 92 shares during the period. Conning Inc. increased its position in shares of PPG Industries by 5.5% during the first quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company's stock worth $206,000 after buying an additional 98 shares during the period. Beacon Capital Management LLC increased its position in shares of PPG Industries by 37.1% during the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock worth $41,000 after buying an additional 101 shares during the period. Chilton Capital Management LLC increased its position in shares of PPG Industries by 22.6% during the first quarter. Chilton Capital Management LLC now owns 576 shares of the specialty chemicals company's stock worth $63,000 after buying an additional 106 shares during the period. Finally, Motco increased its position in shares of PPG Industries by 19.3% during the first quarter. Motco now owns 680 shares of the specialty chemicals company's stock worth $74,000 after buying an additional 110 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 1.0%

Shares of PPG traded up $1.07 during trading hours on Tuesday, reaching $106.07. 1,398,007 shares of the stock traded hands, compared to its average volume of 2,098,650. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $112.83 and a 200 day simple moving average of $111.55. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a market cap of $23.94 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.17 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the company posted $2.50 earnings per share. The firm's quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. This is a boost from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date is Monday, August 11th. PPG Industries's dividend payout ratio is 61.68%.

Analysts Set New Price Targets

PPG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada increased their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday. Mizuho increased their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Bank of America reissued a "neutral" rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Finally, UBS Group increased their target price on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Nine investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $129.82.

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.