North Point Portfolio Managers Corp OH Makes New $284,000 Investment in PPG Industries, Inc. (NYSE:PPG)

North Point Portfolio Managers Corp OH bought a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,600 shares of the specialty chemicals company's stock, valued at approximately $284,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in PPG Industries in the fourth quarter valued at approximately $2,543,000. FourThought Financial Partners LLC acquired a new stake in PPG Industries in the fourth quarter valued at approximately $458,000. Bell Asset Management Ltd acquired a new stake in PPG Industries in the fourth quarter valued at approximately $6,955,000. Finally, Impax Asset Management Group plc grew its stake in PPG Industries by 7.0% in the fourth quarter. Impax Asset Management Group plc now owns 254,358 shares of the specialty chemicals company's stock valued at $30,383,000 after acquiring an additional 16,567 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PPG. Citigroup raised their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Deutsche Bank Aktiengesellschaft lifted their target price on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. cut their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Bank of America reaffirmed a "neutral" rating and set a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company lifted their target price on PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $129.83.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $108.71 on Friday. The stock's 50-day simple moving average is $108.57 and its 200-day simple moving average is $112.84. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.46 and a beta of 1.17. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79.

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

PPG Industries Dividend Announcement

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

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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