First Personal Financial Services Reduces Stock Position in PPG Industries, Inc. (NYSE:PPG)

First Personal Financial Services decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 28.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 800 shares of the specialty chemicals company’s stock after selling 325 shares during the period. First Personal Financial Services’ holdings in PPG Industries were worth $101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Azzad Asset Management Inc. ADV increased its stake in PPG Industries by 1.5% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 27,102 shares of the specialty chemicals company’s stock worth $3,412,000 after buying an additional 396 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in PPG Industries by 50.9% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 141,963 shares of the specialty chemicals company’s stock worth $17,872,000 after acquiring an additional 47,885 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of PPG Industries by 4.8% during the second quarter. Nations Financial Group Inc. IA ADV now owns 5,387 shares of the specialty chemicals company’s stock worth $678,000 after acquiring an additional 247 shares during the period. UMB Bank n.a. raised its stake in shares of PPG Industries by 1.6% during the second quarter. UMB Bank n.a. now owns 14,172 shares of the specialty chemicals company’s stock valued at $1,784,000 after acquiring an additional 221 shares in the last quarter. Finally, F M Investments LLC purchased a new stake in shares of PPG Industries in the second quarter valued at approximately $293,000. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PPG has been the topic of several research reports. Barclays reduced their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Citigroup decreased their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. BMO Capital Markets lowered their price objective on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. KeyCorp cut their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Royal Bank of Canada lowered their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Stock Up 0.7 %

PPG traded up $0.88 during trading on Friday, hitting $129.72. The stock had a trading volume of 2,175,023 shares, compared to its average volume of 1,628,781. The stock has a 50 day simple moving average of $125.49 and a two-hundred day simple moving average of $132.45. The company has a market capitalization of $30.42 billion, a PE ratio of 21.91, a PEG ratio of 1.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter last year, the firm earned $2.25 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be issued a dividend of $0.68 per share. The ex-dividend date is Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.10%. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio is 45.95%.

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.