PPG Industries, Inc. (NYSE:PPG) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 4.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 302,962 shares of the specialty chemicals company's stock after purchasing an additional 12,650 shares during the period. Principal Financial Group Inc. owned about 0.13% of PPG Industries worth $33,129,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in PPG Industries during the 4th quarter valued at $26,000. CVA Family Office LLC grew its holdings in PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 113 shares during the last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $36,000. Beacon Capital Management LLC increased its holdings in PPG Industries by 37.1% during the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock valued at $41,000 after purchasing an additional 101 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of PPG Industries in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Trading Up 0.6%

PPG Industries stock traded up $0.75 during trading hours on Wednesday, hitting $118.16. The company had a trading volume of 97,841 shares, compared to its average volume of 1,851,285. The company has a 50-day moving average price of $111.98 and a two-hundred day moving average price of $112.19. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The firm has a market cap of $26.82 billion, a P/E ratio of 25.33, a P/E/G ratio of 2.42 and a beta of 1.16. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. The firm 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 firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.87 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is currently 58.24%.

Analyst Ratings Changes

A number of brokerages have recently commented on PPG. Deutsche Bank Aktiengesellschaft boosted their price target on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Bank of America reaffirmed a "neutral" rating and issued a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $130.67.

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.