PPG Industries, Inc. (NYSE:PPG) Holdings Raised by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 24.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,363 shares of the specialty chemicals company's stock after purchasing an additional 2,451 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in PPG Industries were worth $1,352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in PPG Industries in the 4th quarter worth $470,535,000. Kovitz Investment Group Partners LLC increased its position in shares of PPG Industries by 482.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock worth $518,132,000 after acquiring an additional 3,592,655 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of PPG Industries by 815.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock worth $362,074,000 after acquiring an additional 2,700,018 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in PPG Industries by 138.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company's stock valued at $381,876,000 after purchasing an additional 1,858,895 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after purchasing an additional 1,590,041 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on PPG. Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. UBS Group boosted their target price on shares of PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. 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. Finally, Citigroup lowered their price objective on PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.42.

PPG Industries Stock Performance

NYSE:PPG traded up $1.40 during midday trading on Friday, reaching $112.66. 1,055,292 shares of the company traded hands, compared to its average volume of 1,821,010. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. 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 fifty day moving average price of $106.52 and a 200 day moving average price of $113.89. The firm has a market capitalization of $25.57 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results 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 during 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 company's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.87 earnings per share. On average, analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

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 issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.41%. PPG Industries's dividend payout ratio (DPR) is presently 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.