Global X Japan Co. Ltd. Has $410,000 Position in PPG Industries, Inc. (NYSE:PPG)

Global X Japan Co. Ltd. raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,253 shares of the specialty chemicals company’s stock after purchasing an additional 322 shares during the quarter. Global X Japan Co. Ltd.’s holdings in PPG Industries were worth $410,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PPG. Private Wealth Management Group LLC bought a new position in shares of PPG Industries in the fourth quarter valued at about $27,000. Richardson Financial Services Inc. acquired a new position in PPG Industries in the 4th quarter valued at about $29,000. LifeSteps Financial Inc. bought a new position in PPG Industries in the 1st quarter valued at about $29,000. YHB Investment Advisors Inc. acquired a new stake in PPG Industries during the first quarter worth approximately $29,000. Finally, Financial Connections Group Inc. bought a new stake in shares of PPG Industries during the second quarter worth approximately $25,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PPG shares. KeyCorp lowered their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Barclays lowered their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Citigroup reduced their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets lowered their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Royal Bank of Canada dropped their price objective on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Trading Up 1.1 %

Shares of PPG opened at $126.15 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The firm has a market cap of $29.58 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 1.68 and a beta of 1.26. The business’s fifty day moving average is $125.65 and its 200-day moving average is $131.62.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.25 earnings per share. Equities analysts anticipate that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be paid a $0.68 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.72 annualized dividend and a yield of 2.16%. PPG Industries’s dividend payout ratio is presently 45.95%.

PPG Industries Company Profile

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.