Clarion Wealth Managment Partners LLC bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) in the 2nd quarter, Holdings Channel reports. The firm bought 5,427 shares of the specialty chemicals company’s stock, valued at approximately $658,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Haverford Trust Co bought a new position in PPG Industries in the 2nd quarter valued at $785,000. Bank of Nova Scotia purchased a new stake in PPG Industries in the second quarter worth $2,850,000. Compass Financial Management LLC bought a new stake in shares of PPG Industries during the second quarter worth $81,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of PPG Industries during the second quarter valued at $3,343,000. Finally, Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of PPG Industries during the second quarter valued at $252,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.
PPG Industries Stock Up 0.2%
Shares of PPG Industries stock opened at $113.81 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. PPG Industries, Inc. has a 1 year low of $93.39 and a 1 year high of $133.43. The firm’s 50-day moving average is $117.31 and its two-hundred day moving average is $113.99. The stock has a market cap of $25.30 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 1.65 and a beta of 1.07.
PPG Industries Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, August 10th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 2.6%. PPG Industries’s dividend payout ratio is 42.41%.
Wall Street Analysts Forecast Growth
PPG has been the topic of a number of research analyst reports. Mizuho upped their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. dropped their target price on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Citigroup reduced their target price on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Finally, BNP Paribas Exane lifted their price target on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $126.00.
Get Our Latest Research Report on PPG Industries
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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