Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PPG Industries, Inc. (NYSE:PPG) by 19.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,611 shares of the specialty chemicals company’s stock after buying an additional 18,564 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PPG Industries were worth $12,423,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. LRI Investments LLC boosted its position in shares of PPG Industries by 25.3% during the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 92 shares during the period. Conning Inc. lifted its stake in PPG Industries by 5.5% during the first quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 98 shares in the last quarter. Beacon Capital Management LLC lifted its stake in PPG Industries by 37.1% during the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 101 shares in the last quarter. Chilton Capital Management LLC lifted its stake in PPG Industries by 22.6% during the first quarter. Chilton Capital Management LLC now owns 576 shares of the specialty chemicals company’s stock worth $63,000 after purchasing an additional 106 shares in the last quarter. Finally, Motco lifted its stake in PPG Industries by 19.3% during the first quarter. Motco now owns 680 shares of the specialty chemicals company’s stock worth $74,000 after purchasing an additional 110 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Down 1.2%

Shares of NYSE:PPG opened at $112.59 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The firm’s 50 day moving average price is $113.39 and its 200 day moving average price is $111.98. The stock has a market cap of $25.56 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 2.39 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.22. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter last year, the company earned $2.50 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.52%. This is a boost from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s dividend payout ratio (DPR) is presently 58.24%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PPG shares. JPMorgan Chase & Co. decreased their target price on PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company increased their target price on PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Mizuho increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Citigroup increased their price target on shares of PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada increased their price target on shares of PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.45.

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.