Shelton Capital Management Acquires 530 Shares of PPG Industries, Inc. (NYSE:PPG)

Shelton Capital Management boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 34.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,088 shares of the specialty chemicals company’s stock after acquiring an additional 530 shares during the period. Shelton Capital Management’s holdings in PPG Industries were worth $310,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Prospector Partners LLC increased its position in shares of PPG Industries by 6.2% during the second quarter. Prospector Partners LLC now owns 103,762 shares of the specialty chemicals company’s stock valued at $15,388,000 after buying an additional 6,050 shares during the period. Russell Investments Group Ltd. boosted its position in PPG Industries by 18.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 208,546 shares of the specialty chemicals company’s stock valued at $30,766,000 after acquiring an additional 32,663 shares in the last quarter. Ledyard National Bank raised its position in shares of PPG Industries by 9.7% in the 2nd quarter. Ledyard National Bank now owns 2,331 shares of the specialty chemicals company’s stock worth $346,000 after acquiring an additional 206 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of PPG Industries by 1.4% in the 2nd quarter. Moors & Cabot Inc. now owns 12,030 shares of the specialty chemicals company’s stock valued at $1,784,000 after purchasing an additional 161 shares during the period. Finally, Nwam LLC boosted its position in shares of PPG Industries by 0.8% during the second quarter. Nwam LLC now owns 13,906 shares of the specialty chemicals company’s stock valued at $2,062,000 after purchasing an additional 106 shares in the last quarter. 79.18% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

PPG opened at $135.56 on Tuesday. The company’s 50-day simple moving average is $129.16 and its two-hundred day simple moving average is $137.15. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89. The stock has a market capitalization of $31.97 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.14 and a beta of 1.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.05 and a current ratio of 1.48.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, October 19th. The specialty chemicals company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.13. The company had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.64 billion. PPG Industries had a net margin of 7.84% and a return on equity of 23.51%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company posted $1.66 earnings per share. As a group, analysts predict that PPG Industries, Inc. will post 7.64 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s payout ratio is currently 43.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PPG shares. StockNews.com started coverage on PPG Industries in a report on Thursday, October 5th. They issued a “buy” rating for the company. KeyCorp lowered their price target on shares of PPG Industries from $172.00 to $166.00 and set an “overweight” rating for the company in a research report on Friday, October 20th. Bank of America upped their price objective on shares of PPG Industries from $163.00 to $170.00 in a report on Monday, July 24th. Citigroup lowered their target price on shares of PPG Industries from $154.00 to $152.00 and set a “buy” rating for the company in a report on Friday, October 20th. Finally, Barclays upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and set a $160.00 price target on the stock in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average price target of $155.44.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.