Virtu Financial LLC Invests $1.09 Million in PPG Industries, Inc. (NYSE:PPG)

Key Points

• Virtu Financial LLC has acquired a new position in PPG Industries, Inc. worth approximately $1.09 million, buying 9,960 shares during the first quarter.
• PPG recently declared an increased quarterly dividend of $0.71, up from the previous $0.68, with a current annualized yield of 2.7%.
• The stock currently has a consensus rating of "Moderate Buy" from analysts, with an average price target of $129.82.

Virtu Financial LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,960 shares of the specialty chemicals company's stock, valued at approximately $1,089,000.

Other hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in PPG Industries in the 4th quarter valued at $26,000. Cheviot Value Management LLC bought a new stake in PPG Industries in the 1st quarter valued at $26,000. Headlands Technologies LLC bought a new stake in PPG Industries in the 1st quarter valued at $30,000. CVA Family Office LLC boosted its stake 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 purchasing an additional 113 shares during the period. Finally, Financial Connections Group Inc. boosted its stake in PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 150 shares during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Down 0.2%

Shares of PPG Industries stock traded down $0.23 on Friday, hitting $111.72. 881,526 shares of the company's stock traded hands, compared to its average volume of 2,080,252. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The company has a fifty day moving average of $112.45 and a two-hundred day moving average of $110.94. The company has a market capitalization of $25.22 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 2.33 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The firm's revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be paid a dividend of $0.71 per share. This is an increase 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 dividend on an annualized basis and a yield of 2.5%. PPG Industries's dividend payout ratio (DPR) is currently 64.40%.

Wall Street Analyst Weigh In

PPG has been the subject of several analyst reports. UBS Group lifted their price objective on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Mizuho lifted their price objective on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Citigroup boosted their price target on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, JPMorgan Chase & Co. lowered their price target on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $129.82.

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.