PPG Industries, Inc. (NYSE:PPG) Stock Position Raised by Central Bank & Trust Co.

Central Bank & Trust Co. increased its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 47.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,719 shares of the specialty chemicals company's stock after purchasing an additional 3,127 shares during the quarter. Central Bank & Trust Co.'s holdings in PPG Industries were worth $1,063,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in PPG. Park Square Financial Group LLC bought a new stake in shares of PPG Industries in the fourth quarter valued at about $26,000. Prudent Man Investment Management Inc. acquired a new stake in PPG Industries in the fourth quarter worth $36,000. Millstone Evans Group LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $46,000. Human Investing LLC acquired a new stake in PPG Industries in the 4th quarter valued at approximately $48,000. Finally, Centricity Wealth Management LLC acquired a new stake in PPG Industries in the 4th quarter valued at $48,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on PPG. UBS Group boosted their price target on PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Fermium Researc raised PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Royal Bank of Canada increased their price target 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. Bank of America restated a "neutral" rating and issued a $126.00 price target (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Finally, Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $128.42.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $112.66 on Friday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The firm's 50 day moving average price is $106.52 and its 200-day moving average price is $113.84. The stock has a market capitalization of $25.57 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

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, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the company earned $1.87 EPS. The firm's quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Monday, May 12th. PPG Industries's dividend payout ratio is currently 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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