Monte Financial Group LLC Has $4.02 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Monte Financial Group LLC raised its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 45.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 40,204 shares of the specialty chemicals company's stock after purchasing an additional 12,516 shares during the quarter. Monte Financial Group LLC's holdings in PPG Industries were worth $4,022,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PPG. Norges Bank bought a new position in shares of PPG Industries during the 4th quarter worth approximately $470,535,000. Kovitz Investment Group Partners LLC boosted its holdings in shares of PPG Industries by 482.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock worth $518,132,000 after buying an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of PPG Industries by 815.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock worth $362,074,000 after buying an additional 2,700,018 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of PPG Industries by 138.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company's stock worth $381,876,000 after buying an additional 1,858,895 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock worth $1,262,234,000 after buying an additional 1,590,041 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price target on PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. UBS Group increased their price target on PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Bank of America reiterated a "neutral" rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Finally, Wells Fargo & Company increased their target price on PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, PPG Industries currently has an average rating of "Moderate Buy" and an average price target of $129.83.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $108.71 on Friday. 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 stock's fifty day simple moving average is $108.57 and its two-hundred day simple moving average is $112.94. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The stock has a market cap of $24.68 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.45 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share 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 for the quarter, compared to analysts' expectations of $3.67 billion. During the same period last year, the business earned $1.87 EPS. The business's revenue was down 4.3% on a year-over-year basis. As a group, analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

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

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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