KBC Group NV Lowers Stake in PPG Industries, Inc. (NYSE:PPG)

KBC Group NV reduced its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,967 shares of the specialty chemicals company's stock after selling 12,257 shares during the quarter. KBC Group NV owned approximately 0.15% of PPG Industries worth $36,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in PPG Industries during the fourth quarter valued at approximately $26,000. CVA Family Office LLC raised its holdings 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 valued at $30,000 after buying an additional 113 shares during the period. Prudent Man Investment Management Inc. purchased a new stake in PPG Industries during the 4th quarter valued at $36,000. Beacon Capital Management LLC lifted its position in PPG Industries by 37.1% in 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 last quarter. Finally, Millstone Evans Group LLC purchased a new position in PPG Industries during the fourth quarter worth $46,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Price Performance

Shares of PPG opened at $114.20 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. PPG Industries, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $137.24. The firm has a 50-day simple moving average of $109.94 and a 200-day simple moving average of $112.36. The company has a market capitalization of $25.92 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data 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 net margin of 6.49% and a return on equity of 24.84%. The company had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same period in the previous year, the company posted $1.87 EPS. PPG Industries's revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were given a dividend of $0.68 per share. The ex-dividend date was Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.38%. PPG Industries's dividend payout ratio (DPR) is presently 58.24%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PPG. Citigroup upped their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Bank of America reiterated a "neutral" rating and set a $126.00 price objective (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Royal Bank Of Canada boosted their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. UBS Group increased 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. Finally, JPMorgan Chase & Co. reduced their price target on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Nine 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 company's stock. According to MarketBeat, PPG Industries has a consensus rating of "Moderate Buy" and a consensus target price of $129.83.

PPG Industries Company 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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