YorkBridge Wealth Partners LLC Raises Stake in PPG Industries, Inc. (NYSE:PPG)

YorkBridge Wealth Partners LLC boosted its stake in PPG Industries, Inc. (NYSE:PPGGet Rating) by 4.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,048 shares of the specialty chemicals company’s stock after purchasing an additional 458 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in PPG Industries were worth $1,149,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PPG. IFM Investors Pty Ltd raised its holdings in PPG Industries by 4.2% in the second quarter. IFM Investors Pty Ltd now owns 39,893 shares of the specialty chemicals company’s stock valued at $4,561,000 after acquiring an additional 1,599 shares in the last quarter. Marcum Wealth LLC grew its position in PPG Industries by 6.8% in the 2nd quarter. Marcum Wealth LLC now owns 1,856 shares of the specialty chemicals company’s stock valued at $212,000 after buying an additional 118 shares in the last quarter. Gofen & Glossberg LLC IL grew its position in PPG Industries by 6.4% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 7,401 shares of the specialty chemicals company’s stock valued at $846,000 after buying an additional 445 shares in the last quarter. Raymond James Trust N.A. grew its position in PPG Industries by 2.3% in the 2nd quarter. Raymond James Trust N.A. now owns 35,207 shares of the specialty chemicals company’s stock valued at $4,025,000 after buying an additional 802 shares in the last quarter. Finally, BerganKDV Wealth Management LLC lifted its holdings in PPG Industries by 6.2% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 27,071 shares of the specialty chemicals company’s stock valued at $3,095,000 after acquiring an additional 1,573 shares during the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

PPG stock opened at $111.92 on Friday. The stock has a market capitalization of $26.30 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.33 and a beta of 1.16. PPG Industries, Inc. has a 12-month low of $107.06 and a 12-month high of $177.32. The company has a current ratio of 1.50, a quick ratio of 1.02 and a debt-to-equity ratio of 1.08. The stock’s 50 day simple moving average is $126.18 and its 200 day simple moving average is $125.13.

PPG Industries (NYSE:PPGGet Rating) last announced its earnings results on Thursday, July 21st. The specialty chemicals company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. PPG Industries had a return on equity of 22.97% and a net margin of 6.20%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.75 billion. As a group, research analysts forecast that PPG Industries, Inc. will post 6.73 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 10th were issued a $0.62 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is presently 54.39%.

Wall Street Analyst Weigh In

PPG has been the subject of a number of analyst reports. Mizuho upped their price objective on shares of PPG Industries from $162.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, July 25th. Bank of America lowered their price target on PPG Industries from $172.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. TheStreet raised PPG Industries from a “c+” rating to a “b” rating in a research report on Monday, September 12th. Wells Fargo & Company reduced their target price on PPG Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Friday, September 16th. Finally, Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a research report on Monday, June 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $155.41.

About PPG Industries

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

Further Reading

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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