PPG Industries, Inc. (NYSE:PPG) Position Lifted by Tanager Wealth Management LLP

Tanager Wealth Management LLP raised its stake in PPG Industries, Inc. (NYSE:PPG) by 27.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,767 shares of the specialty chemicals company’s stock after purchasing an additional 592 shares during the period. Tanager Wealth Management LLP’s holdings in PPG Industries were worth $367,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Kingsview Wealth Management LLC boosted its holdings in PPG Industries by 0.9% in the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after purchasing an additional 76 shares during the period. Applied Capital LLC FL grew its position in shares of PPG Industries by 1.3% during the 1st quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock valued at $928,000 after buying an additional 82 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in PPG Industries by 0.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after acquiring an additional 82 shares during the period. Klingman & Associates LLC lifted its holdings in PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 83 shares during the last quarter. Finally, Fragasso Financial Advisors Inc boosted its stake in PPG Industries by 0.6% in the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. KeyCorp dropped their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Citigroup cut their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Mizuho lowered their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. UBS Group lifted their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada reduced their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Trading Down 0.3 %

Shares of PPG stock opened at $126.28 on Thursday. The stock has a 50-day simple moving average of $127.69 and a 200 day simple moving average of $128.83. The stock has a market capitalization of $29.46 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.93 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.58% and a net margin of 8.24%. The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm earned $2.07 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts expect that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio is presently 43.11%.

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.