PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 446,473 shares of the specialty chemicals company's stock after purchasing an additional 4,941 shares during the period. Victory Capital Management Inc. owned about 0.20% of PPG Industries worth $48,822,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in PPG Industries in the fourth quarter worth about $470,535,000. Kovitz Investment Group Partners LLC lifted 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 valued at $518,132,000 after buying an additional 3,592,655 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of PPG Industries by 815.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock valued at $362,074,000 after buying an additional 2,700,018 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of PPG Industries by 17.7% during the fourth 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 buying an additional 1,590,041 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after buying an additional 756,937 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Mizuho boosted their price target on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Bank of America reissued a "neutral" rating and set a $126.00 price target (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Citigroup raised their price target on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Nine research 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $131.42.

PPG Industries Trading Down 1.3%

Shares of NYSE PPG traded down $1.51 during trading on Friday, hitting $114.51. 5,187,043 shares of the company were exchanged, compared to its average volume of 1,856,189. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The company has a fifty day moving average price of $113.18 and a 200-day moving average price of $111.99. The firm has a market capitalization of $25.99 billion, a PE ratio of 24.52, a P/E/G ratio of 2.40 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. PPG Industries's revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.87 EPS. As a group, equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be given a $0.71 dividend. This is an increase from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Monday, August 11th. PPG Industries's payout ratio is currently 60.81%.

PPG Industries Company 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.