Azzad Asset Management Inc. ADV Acquires Shares of 26,184 PPG Industries, Inc. (NYSE:PPG)

Azzad Asset Management Inc. ADV acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the 1st quarter, Holdings Channel reports. The fund acquired 26,184 shares of the specialty chemicals company’s stock, valued at approximately $2,863,000.

Several other large investors also recently bought and sold shares of the stock. Park Square Financial Group LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth about $26,000. CVA Family Office LLC boosted its stake in shares of PPG Industries by 70.6% during the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 113 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in shares of PPG Industries during the fourth quarter worth about $36,000. Millstone Evans Group LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth about $46,000. Finally, Human Investing LLC purchased a new position in PPG Industries during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PPG shares. Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. UBS Group increased their price target on shares of PPG Industries from $110.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of PPG Industries from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and an average price target of $129.83.

PPG Industries Stock Down 5.2%

PPG stock opened at $106.25 on Friday. The company’s 50 day simple moving average is $107.69 and its 200-day simple moving average is $113.50. The firm has a market capitalization of $24.12 billion, a PE ratio of 22.46, a P/E/G ratio of 2.19 and a beta of 1.17. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.87 earnings per share. Equities analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.56%. PPG Industries’s dividend payout ratio (DPR) is currently 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.