PPG Industries, Inc. (NYSE:PPG) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,522,732 shares of the specialty chemicals company's stock after acquiring an additional 64,367 shares during the quarter. ProShare Advisors LLC owned 0.66% of PPG Industries worth $181,890,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PUREfi Wealth LLC bought a new stake in PPG Industries in the fourth quarter valued at approximately $279,000. JGP Wealth Management LLC bought a new position in PPG Industries during the 4th quarter worth $4,050,000. Vanguard Group Inc. increased 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 worth $3,508,210,000 after buying an additional 756,937 shares during the period. Avanza Fonder AB bought a new stake in PPG Industries in the fourth quarter worth approximately $2,944,000. Finally, Lebenthal Global Advisors LLC acquired a new stake in PPG Industries in the fourth quarter worth $409,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PPG has been the topic of a number of recent research reports. Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Citigroup reduced their price target on shares of PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $128.42.

PPG Industries Stock Performance

Shares of NYSE:PPG traded down $0.17 during trading on Tuesday, hitting $114.09. 335,930 shares of the stock traded hands, compared to its average volume of 1,814,702. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market cap of $25.90 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 2.19 and a beta of 1.20. The company has a fifty day moving average price of $106.50 and a two-hundred day moving average price of $114.99. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The business had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter in the prior year, the company posted $1.87 EPS. The business's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.38%. PPG Industries's dividend payout ratio (DPR) is presently 58.24%.

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.