South Dakota Investment Council Grows Position in PPG Industries, Inc. (NYSE:PPG)

South Dakota Investment Council grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 108.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,121 shares of the specialty chemicals company's stock after purchasing an additional 8,397 shares during the period. South Dakota Investment Council's holdings in PPG Industries were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission.

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

PPG Industries Stock Performance

PPG traded up $0.83 during trading on Tuesday, reaching $115.35. The company's stock had a trading volume of 1,679,209 shares, compared to its average volume of 1,852,341. The company's fifty day moving average price is $113.18 and its 200-day moving average price is $111.96. The company has a market capitalization of $26.18 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.40 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, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24.

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

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be paid a $0.71 dividend. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 annualized dividend and a yield of 2.46%. PPG Industries's dividend payout ratio (DPR) is 58.24%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Mizuho lifted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Finally, Bank of America reaffirmed a "neutral" rating and set a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Nine equities research 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $131.42.

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.