Monte Financial Group LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,279 shares of the specialty chemicals company’s stock after acquiring an additional 140 shares during the quarter. Monte Financial Group LLC’s holdings in PPG Industries were worth $483,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of PPG. TD Asset Management Inc. lifted its position in PPG Industries by 0.9% during the 4th quarter. TD Asset Management Inc. now owns 72,609 shares of the specialty chemicals company’s stock valued at $7,423,000 after purchasing an additional 616 shares during the period. Putnam FL Investment Management Co. acquired a new position in PPG Industries during the 4th quarter valued at about $213,000. Janney Montgomery Scott LLC lifted its position in PPG Industries by 1.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 126,124 shares of the specialty chemicals company’s stock valued at $12,894,000 after purchasing an additional 1,867 shares during the period. G&S Capital LLC lifted its position in PPG Industries by 13.9% during the 4th quarter. G&S Capital LLC now owns 1,275 shares of the specialty chemicals company’s stock valued at $130,000 after purchasing an additional 156 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in PPG Industries during the 4th quarter valued at about $45,000. 79.73% of the stock is currently owned by hedge funds and other institutional investors.
PPG stock traded up $0.60 during mid-day trading on Tuesday, hitting $117.84. 31,189 shares of the company were exchanged, compared to its average volume of 1,310,865. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.96 and a current ratio of 1.40. The company has a market capitalization of $28.30 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 2.09 and a beta of 1.19. PPG Industries, Inc. has a 1-year low of $94.37 and a 1-year high of $121.29.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.92 annualized dividend and a yield of 1.63%. PPG Industries’s dividend payout ratio (DPR) is currently 32.43%.
A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of PPG Industries from a “neutral” rating to an “underweight” rating and set a $106.00 price target on the stock. in a research report on Friday, March 22nd. Zacks Investment Research reiterated a “hold” rating on shares of PPG Industries in a research report on Monday, December 31st. Credit Suisse Group reiterated a “hold” rating and issued a $115.00 price target on shares of PPG Industries in a research report on Thursday, January 17th. KeyCorp increased their price target on shares of PPG Industries from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Finally, Buckingham Research increased their price target on shares of PPG Industries from $108.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $117.04.
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PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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