Penserra Capital Management LLC Boosts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Penserra Capital Management LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 1,007.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,756 shares of the specialty chemicals company's stock after buying an additional 6,146 shares during the quarter. Penserra Capital Management LLC's holdings in PPG Industries were worth $738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in shares of PPG Industries in the 4th quarter worth about $26,000. CVA Family Office LLC raised its position in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 113 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in shares of PPG Industries in the 4th quarter worth about $36,000. Beacon Capital Management LLC raised its position in shares of PPG Industries by 37.1% in the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock worth $41,000 after acquiring an additional 101 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new position in shares of PPG Industries in the 4th quarter worth about $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of NYSE PPG traded down $0.90 during midday trading on Monday, reaching $116.40. The company's stock had a trading volume of 1,219,235 shares, compared to its average volume of 2,076,478. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The firm has a 50 day moving average price of $112.51 and a 200-day moving average price of $112.08. The stock has a market capitalization of $26.42 billion, a P/E ratio of 24.93, a PEG ratio of 2.46 and a beta of 1.16. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.99.

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

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.34%. PPG Industries's payout ratio is 58.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PPG shares. Bank of America reissued a "neutral" rating and issued a $126.00 price objective (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. UBS Group lifted their price objective on PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Citigroup boosted their target price on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Royal Bank Of Canada boosted their target price on PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Finally, Wells Fargo & Company boosted their target price on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $131.83.

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.