Beacon Capital Management LLC Has $41,000 Stake in PPG Industries, Inc. (NYSE:PPG)

Beacon Capital Management LLC increased its stake in PPG Industries, Inc. (NYSE:PPG) by 37.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 373 shares of the specialty chemicals company’s stock after purchasing an additional 101 shares during the period. Beacon Capital Management LLC’s holdings in PPG Industries were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PPG. Park Square Financial Group LLC acquired a new position in shares of PPG Industries during the fourth quarter worth about $26,000. CVA Family Office LLC lifted its stake in PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 113 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in PPG Industries in the 4th quarter valued at approximately $36,000. CX Institutional acquired a new position in PPG Industries during the 1st quarter worth approximately $44,000. Finally, Millstone Evans Group LLC bought a new position in shares of PPG Industries during the 4th quarter worth approximately $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PPG has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft raised their price objective on PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a report on Monday, May 12th. Finally, Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.83.

PPG Industries Stock Performance

PPG opened at $108.18 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The business has a 50 day moving average of $108.22 and a 200-day moving average of $113.18. The stock has a market cap of $24.56 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 2.43 and a beta of 1.17.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the firm posted $1.87 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries’s payout ratio is 58.24%.

About PPG Industries

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.