Moran Wealth Management LLC Boosts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Moran Wealth Management LLC lifted its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 16.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,020 shares of the specialty chemicals company's stock after purchasing an additional 6,838 shares during the period. Moran Wealth Management LLC's holdings in PPG Industries were worth $5,360,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its stake in PPG Industries by 12.1% in the first quarter. Asset Management One Co. Ltd. now owns 102,778 shares of the specialty chemicals company's stock valued at $11,239,000 after purchasing an additional 11,130 shares in the last quarter. Jmac Enterprises LLC increased its holdings in PPG Industries by 54.5% in the 1st quarter. Jmac Enterprises LLC now owns 6,800 shares of the specialty chemicals company's stock valued at $744,000 after buying an additional 2,400 shares during the period. Avantra Family Wealth Inc. acquired a new position in shares of PPG Industries in the 1st quarter valued at approximately $390,000. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of PPG Industries by 33.7% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,723 shares of the specialty chemicals company's stock worth $735,000 after acquiring an additional 1,694 shares during the period. Finally, Guyasuta Investment Advisors Inc. boosted its position in shares of PPG Industries by 4.6% during the 1st quarter. Guyasuta Investment Advisors Inc. now owns 51,777 shares of the specialty chemicals company's stock worth $5,662,000 after acquiring an additional 2,257 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on PPG shares. Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. UBS Group boosted 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. Seaport Res Ptn downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Citigroup boosted their target price 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. Finally, JPMorgan Chase & Co. lowered their price objective on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PPG Industries has a consensus rating of "Moderate Buy" and an average target price of $129.83.

PPG Industries Trading Up 0.6%

Shares of NYSE:PPG traded up $0.63 during midday trading on Thursday, reaching $113.89. The company's stock had a trading volume of 1,475,124 shares, compared to its average volume of 2,136,561. The firm has a 50 day moving average price of $109.37 and a two-hundred day moving average price of $112.68. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The firm has a market capitalization of $25.85 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.39 and a beta of 1.17. 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 (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS 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 company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the business posted $1.87 EPS. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Monday, May 12th. PPG Industries's payout ratio is currently 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.