Jmac Enterprises LLC Boosts Stake in PPG Industries, Inc. (NYSE:PPG)

Jmac Enterprises LLC raised its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 54.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,800 shares of the specialty chemicals company's stock after buying an additional 2,400 shares during the period. Jmac Enterprises LLC's holdings in PPG Industries were worth $744,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the fourth quarter worth about $26,000. CVA Family Office LLC raised 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 acquiring an additional 113 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in PPG Industries during the fourth quarter worth about $36,000. Beacon Capital Management LLC increased its stake in shares of PPG Industries by 37.1% in the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock valued at $41,000 after purchasing an additional 101 shares during the period. Finally, CX Institutional acquired a new stake in shares of PPG Industries in the first quarter valued at approximately $44,000. Institutional investors own 81.86% of the company's stock.

PPG Industries Trading Up 0.4%

PPG Industries stock opened at $108.71 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The firm 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, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The firm's 50 day moving average price is $108.57 and its two-hundred day moving average price is $112.75.

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

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.50%. The ex-dividend date was Monday, May 12th. PPG Industries's payout ratio is 58.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PPG shares. Royal Bank Of Canada raised their price target on shares of PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Bank of America reiterated a "neutral" rating and set a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Argus lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Finally, Wells Fargo & Company raised their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and an average price target of $129.83.

About PPG Industries

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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