Janney Montgomery Scott LLC raised its stake in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 30.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 200,870 shares of the specialty chemicals company’s stock after buying an additional 46,657 shares during the period. Janney Montgomery Scott LLC’s holdings in PPG Industries were worth $21,469,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. CNB Bank raised its holdings in PPG Industries by 1.8% during the fourth quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company’s stock worth $463,000 after purchasing an additional 80 shares in the last quarter. IFP Advisors Inc boosted its stake in PPG Industries by 2.7% during the 4th quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company’s stock valued at $338,000 after purchasing an additional 87 shares in the last quarter. Whittier Trust Co. increased its position in shares of PPG Industries by 1.4% during the 4th quarter. Whittier Trust Co. now owns 6,658 shares of the specialty chemicals company’s stock valued at $703,000 after purchasing an additional 89 shares during the period. Evolve Private Wealth LLC raised its stake in shares of PPG Industries by 3.2% in the 1st quarter. Evolve Private Wealth LLC now owns 2,929 shares of the specialty chemicals company’s stock worth $313,000 after buying an additional 92 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its stake in shares of PPG Industries by 4.3% in the 4th quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $229,000 after buying an additional 92 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.
PPG Industries Trading Up 0.3%
Shares of NYSE PPG opened at $121.23 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The company has a market cap of $27.02 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 1.77 and a beta of 1.06. The business has a fifty day simple moving average of $112.41 and a 200-day simple moving average of $111.52.
PPG Industries Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 11th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s dividend payout ratio (DPR) is 40.51%.
Analyst Ratings Changes
Several brokerages recently weighed in on PPG. BNP Paribas Exane raised their target price on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of PPG Industries from $120.00 to $130.00 in a report on Friday, March 27th. Mizuho raised their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group dropped their target price on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Hold” and an average target price of $123.73.
View Our Latest Stock Analysis on PPG
PPG Industries Company Profile
PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.
PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.
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