Transcend Capital Advisors LLC Increases Stock Holdings in PPG Industries, Inc. $PPG

Transcend Capital Advisors LLC raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 21,901 shares of the specialty chemicals company’s stock after acquiring an additional 611 shares during the period. Transcend Capital Advisors LLC’s holdings in PPG Industries were worth $2,491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after buying an additional 592,152 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in PPG Industries by 58.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after purchasing an additional 1,766,518 shares during the period. Dimensional Fund Advisors LP grew its holdings in PPG Industries by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock valued at $321,147,000 after purchasing an additional 105,973 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of PPG Industries by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock valued at $298,992,000 after buying an additional 85,891 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of PPG Industries by 2.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company’s stock valued at $237,810,000 after buying an additional 60,301 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Bank of America lowered their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. UBS Group lowered their price target on PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. JPMorgan Chase & Co. upgraded PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a report on Thursday, October 16th. Royal Bank Of Canada boosted their target price on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Finally, Mizuho decreased their target price on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $125.00.

PPG Industries Price Performance

Shares of NYSE PPG opened at $105.66 on Tuesday. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $130.05. The business has a 50-day moving average of $106.66 and a 200-day moving average of $109.04. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 2.18 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.PPG Industries’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.50 EPS. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be paid a $0.71 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio is 64.40%.

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.