W.H. Cornerstone Investments Inc. Purchases Shares of 8,364 PPG Industries, Inc. (NYSE:PPG)

Key Points

• W.H. Cornerstone Investments Inc. acquired 8,364 shares of PPG Industries worth approximately $915,000, marking the firm's new stake in the specialty chemicals company during the first quarter.
• PPG Industries recently declared a quarterly dividend of $0.71 per share, an increase from its previous dividend, with a dividend yield of 2.7%.
• PPG Industries reported earnings per share (EPS) of $2.22, meeting analysts' expectations, despite a year-over-year revenue decline of 0.9%.

W.H. Cornerstone Investments Inc. purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,364 shares of the specialty chemicals company's stock, valued at approximately $915,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PPG. Park Square Financial Group LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth about $26,000. Cheviot Value Management LLC acquired a new stake in shares of PPG Industries during the first quarter worth about $26,000. CVA Family Office LLC increased its position in shares of PPG Industries by 70.6% during the first 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 in the last quarter. Beacon Capital Management LLC increased its position in shares of PPG Industries by 37.1% during the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock worth $41,000 after purchasing an additional 101 shares in the last quarter. Finally, Cromwell Holdings LLC increased its position in shares of PPG Industries by 88.0% during the first quarter. Cromwell Holdings LLC now owns 393 shares of the specialty chemicals company's stock worth $43,000 after purchasing an additional 184 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

PPG stock opened at $104.40 on Monday. The firm has a 50 day moving average of $113.06 and a 200-day moving average of $111.70. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The company has a market cap of $23.56 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 2.15 and a beta of 1.17.

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

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is 64.40%.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of research reports. Royal Bank Of Canada raised their price target on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a report on Friday. Bank of America reissued a "neutral" rating and set a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft raised their price target on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Wells Fargo & Company raised their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. lowered their price objective on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

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.

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