Beacon Capital Management LLC Buys 101 Shares of PPG Industries, Inc. (NYSE:PPG)

Beacon Capital Management LLC grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 37.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 373 shares of the specialty chemicals company’s stock after buying an additional 101 shares during the quarter. Beacon Capital Management LLC’s holdings in PPG Industries were worth $41,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PPG. Vanguard Group Inc. grew its position in PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after acquiring an additional 756,937 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of PPG Industries by 17.7% during the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock valued at $1,262,234,000 after purchasing an additional 1,590,041 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of PPG Industries by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company’s stock worth $660,752,000 after purchasing an additional 93,455 shares during the last quarter. Invesco Ltd. grew its holdings in shares of PPG Industries by 6.1% during the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company’s stock worth $564,596,000 after purchasing an additional 271,699 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its stake in shares of PPG Industries by 482.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock valued at $518,132,000 after buying an additional 3,592,655 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PPG has been the topic of several recent research reports. Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Wells Fargo & Company lifted their price target on shares of PPG Industries from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. UBS Group boosted their price objective on shares of PPG Industries from $110.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Fermium Researc raised PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. Finally, Bank of America reiterated a “neutral” rating and issued a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.83.

PPG Industries Stock Performance

Shares of PPG stock opened at $108.18 on Thursday. The company has a market cap of $24.56 billion, a price-to-earnings ratio of 23.16, a price-to-earnings-growth ratio of 2.43 and a beta of 1.17. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. The firm has a 50 day moving average of $108.22 and a 200-day moving average of $113.18.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping 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 6.49% and a return on equity of 24.84%. PPG Industries’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.87 earnings per share. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries’s payout ratio is 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.