9,849 Shares in PPG Industries, Inc. (NYSE:PPG) Bought by Private Advisor Group LLC

Private Advisor Group LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPGFree Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,849 shares of the specialty chemicals company’s stock, valued at approximately $1,316,000.

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Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in PPG Industries by 1.3% in the first quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after purchasing an additional 252,358 shares during the last quarter. JPMorgan Chase & Co. raised its position in PPG Industries by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 17,843,159 shares of the specialty chemicals company’s stock valued at $2,243,597,000 after purchasing an additional 931,097 shares during the last quarter. Geode Capital Management LLC raised its position in PPG Industries by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,748,598 shares of the specialty chemicals company’s stock valued at $595,991,000 after purchasing an additional 117,868 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in PPG Industries by 163,082.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock valued at $522,813,000 after purchasing an additional 4,155,341 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in PPG Industries by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,193,621 shares of the specialty chemicals company’s stock valued at $418,589,000 after purchasing an additional 65,996 shares during the last quarter. 79.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PPG has been the subject of several research reports. Mizuho increased their target price on PPG Industries from $152.00 to $166.00 in a research report on Thursday, July 20th. BMO Capital Markets increased their target price on PPG Industries from $158.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Morgan Stanley raised their price objective on PPG Industries from $143.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, July 24th. Barclays raised their price objective on PPG Industries from $150.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, July 24th. Finally, Credit Suisse Group raised their price objective on PPG Industries from $133.00 to $140.00 and gave the stock an “underperform” rating in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $156.47.

View Our Latest Analysis on PPG Industries

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $143.33, for a total value of $530,321.00. Following the completion of the sale, the chief financial officer now owns 22,665 shares of the company’s stock, valued at $3,248,574.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Vincent J. Morales sold 3,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $143.33, for a total value of $530,321.00. Following the transaction, the chief financial officer now owns 22,665 shares in the company, valued at $3,248,574.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael H. Mcgarry sold 58,378 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $145.46, for a total value of $8,491,663.88. Following the completion of the transaction, the chairman now owns 195,706 shares in the company, valued at approximately $28,467,394.76. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

PPG Industries Trading Up 0.8 %

NYSE PPG opened at $138.37 on Monday. The business has a 50 day simple moving average of $143.93 and a 200 day simple moving average of $137.95. PPG Industries, Inc. has a one year low of $107.40 and a one year high of $152.89. The stock has a market capitalization of $32.59 billion, a P/E ratio of 24.84, a P/E/G ratio of 1.11 and a beta of 1.18. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.49 and a quick ratio of 1.03.

PPG Industries (NYSE:PPGGet Free Report) last announced its quarterly earnings data on Friday, July 21st. The specialty chemicals company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.11. PPG Industries had a return on equity of 23.59% and a net margin of 7.38%. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts expect that PPG Industries, Inc. will post 7.51 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, August 9th. This is a boost from PPG Industries’s previous quarterly dividend of $0.62. PPG Industries’s dividend payout ratio (DPR) is 46.68%.

About PPG Industries

(Free Report)

PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.

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9,849 Shares in PPG Industries, Inc. (NYSE:PPG) Bought by Private Advisor Group LLC

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