Kessler Investment Group LLC Has $383,000 Stock Position in PPG Industries, Inc. (NYSE:PPG)

Kessler Investment Group LLC trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,500 shares of the specialty chemicals company’s stock after selling 500 shares during the quarter. Kessler Investment Group LLC’s holdings in PPG Industries were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PPG. Park Square Financial Group LLC acquired a new position in PPG Industries during the 4th quarter valued at $26,000. CVA Family Office LLC raised its stake in PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in PPG Industries during the 4th quarter valued at $36,000. Beacon Capital Management LLC raised its stake in PPG Industries by 37.1% during the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock valued at $41,000 after purchasing an additional 101 shares during the last quarter. Finally, CX Institutional acquired a new position in PPG Industries during the 1st quarter valued at $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 0.4%

Shares of NYSE:PPG opened at $114.20 on Friday. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company’s 50-day moving average price is $109.94 and its two-hundred day moving average price is $112.51. 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 market cap of $25.92 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.38 and a beta of 1.17.

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, beating the consensus estimate of $1.62 by $0.10. The company 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%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.87 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.38%. The ex-dividend date was Monday, May 12th. PPG Industries’s payout ratio is 58.24%.

Wall Street Analyst Weigh In

Several research firms recently commented on PPG. Bank of America reiterated a “neutral” rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. UBS Group boosted their price target on shares of PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Citigroup boosted their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 13th. JPMorgan Chase & Co. lowered their price target on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Fermium Researc raised shares of PPG Industries to a “strong-buy” rating in a report on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $129.83.

PPG Industries 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.