IFM Investors Pty Ltd Grows Stake in PPG Industries, Inc. (NYSE:PPG)

IFM Investors Pty Ltd increased its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,945 shares of the specialty chemicals company's stock after acquiring an additional 2,713 shares during the quarter. IFM Investors Pty Ltd's holdings in PPG Industries were worth $7,867,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after acquiring an additional 756,937 shares in the last quarter. Bell Asset Management Ltd bought a new position in shares of PPG Industries during the 4th quarter worth approximately $6,955,000. Wealthfront Advisers LLC raised its stake in shares of PPG Industries by 256.2% during the 4th quarter. Wealthfront Advisers LLC now owns 23,761 shares of the specialty chemicals company's stock worth $2,838,000 after acquiring an additional 17,090 shares in the last quarter. Clear Creek Financial Management LLC bought a new position in shares of PPG Industries during the 1st quarter worth approximately $240,000. Finally, Raymond James Financial Inc. bought a new position in shares of PPG Industries during the 4th quarter worth approximately $82,071,000. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Performance

Shares of PPG Industries stock traded down $1.36 during trading on Monday, hitting $116.92. 148,805 shares of the company's stock were exchanged, compared to its average volume of 1,851,409. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The business has a 50-day simple moving average of $111.45 and a 200-day simple moving average of $112.19. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The stock has a market capitalization of $26.54 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 2.48 and a beta of 1.16.

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

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.33%. PPG Industries's payout ratio is 58.24%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. 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 report on Friday, June 13th. Finally, Royal Bank Of Canada boosted their target price 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. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $130.67.

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.