Oak Thistle LLC Buys New Stake in PPG Industries, Inc. (NYSE:PPG)

Oak Thistle LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,036 shares of the specialty chemicals company's stock, valued at approximately $441,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in PPG Industries by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock valued at $27,311,000 after buying an additional 1,697 shares in the last quarter. Clear Creek Financial Management LLC purchased a new position in PPG Industries during the 1st quarter valued at about $240,000. Principal Financial Group Inc. increased its position in PPG Industries by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock valued at $33,129,000 after purchasing an additional 12,650 shares during the period. Bell Asset Management Ltd purchased a new position in PPG Industries during the 4th quarter valued at about $6,955,000. Finally, Golden State Wealth Management LLC increased its position in PPG Industries by 966.3% during the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock valued at $97,000 after purchasing an additional 802 shares during the period. Institutional investors own 81.86% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PPG shares. Bank of America reaffirmed a "neutral" rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada lifted 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 report on Friday, May 2nd. Finally, Citigroup lifted their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. 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, PPG Industries has an average rating of "Moderate Buy" and an average target price of $129.45.

PPG Industries Stock Performance

NYSE:PPG traded down $0.57 during trading hours on Monday, hitting $115.39. 322,719 shares of the company were exchanged, compared to its average volume of 2,053,720. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 2.43 and a beta of 1.16. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.99. The company's 50 day moving average price is $113.41 and its 200-day moving average price is $111.97.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.87 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be issued a $0.71 dividend. This is an increase from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Monday, August 11th. PPG Industries's dividend payout ratio is 58.24%.

PPG Industries 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.