TCW Group Inc. Purchases 2,615 Shares of PPG Industries, Inc. (NYSE:PPG)

TCW Group Inc. increased its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 23.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,994 shares of the specialty chemicals company's stock after buying an additional 2,615 shares during the period. TCW Group Inc.'s holdings in PPG Industries were worth $1,530,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PPG. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the 4th quarter valued at about $26,000. CVA Family Office LLC raised its position 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 valued at $30,000 after buying an additional 113 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of PPG Industries during the 4th quarter valued at about $36,000. Beacon Capital Management LLC raised 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 buying an additional 101 shares in the last quarter. Finally, Cromwell Holdings LLC raised its position in shares of PPG Industries by 88.0% during the 1st quarter. Cromwell Holdings LLC now owns 393 shares of the specialty chemicals company's stock valued at $43,000 after buying an additional 184 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Trading Down 1.7%

NYSE PPG opened at $113.97 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The company has a fifty day simple moving average of $113.41 and a two-hundred day simple moving average of $111.98. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The stock has a market cap of $25.87 billion, a P/E ratio of 24.40, a P/E/G ratio of 2.43 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, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Monday, August 11th. This is a boost from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio (DPR) is 60.81%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada upped their target price on shares of PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Mizuho increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Nine 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $129.45.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.