Rhumbline Advisers Grows Position in PPG Industries, Inc. (NYSE:PPG)

Rhumbline Advisers raised its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 426,027 shares of the specialty chemicals company's stock after acquiring an additional 22,999 shares during the period. Rhumbline Advisers owned approximately 0.19% of PPG Industries worth $46,586,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock worth $487,000 after purchasing an additional 339 shares during the period. Greenleaf Trust raised its position in PPG Industries by 2.5% during the 4th quarter. Greenleaf Trust now owns 6,958 shares of the specialty chemicals company's stock worth $831,000 after buying an additional 171 shares during the last quarter. Brown Lisle Cummings Inc. raised its position in PPG Industries by 31.7% during the 4th quarter. Brown Lisle Cummings Inc. now owns 1,999 shares of the specialty chemicals company's stock worth $239,000 after buying an additional 481 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of PPG Industries by 11.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 9,828 shares of the specialty chemicals company's stock valued at $1,174,000 after acquiring an additional 1,041 shares in the last quarter. Finally, Weaver Capital Management LLC increased its stake in shares of PPG Industries by 3.4% during the fourth quarter. Weaver Capital Management LLC now owns 12,022 shares of the specialty chemicals company's stock worth $1,436,000 after acquiring an additional 393 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Price Performance

PPG traded up $1.28 during trading on Friday, reaching $112.54. 627,392 shares of the stock were exchanged, compared to its average volume of 1,818,499. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market capitalization of $25.55 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 2.19 and a beta of 1.17. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The business's 50 day moving average price is $106.44 and its two-hundred day moving average price is $113.95.

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, topping the consensus estimate of $1.62 by $0.10. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.87 EPS. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a $0.68 dividend. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.42%. PPG Industries's dividend payout ratio is presently 58.24%.

Analyst Ratings Changes

Several research firms recently issued reports on PPG. The Goldman Sachs Group cut their price target on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Bank of America reissued a "neutral" rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Citigroup dropped their price objective on PPG Industries from $135.00 to $113.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group increased their price objective on PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $128.42.

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.