1,911 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Staley Capital Advisers Inc.

Staley Capital Advisers Inc. acquired a new position in PPG Industries, Inc. (NYSE:PPG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,911 shares of the specialty chemicals company’s stock, valued at approximately $209,000.

Several other institutional investors also recently bought and sold shares of PPG. Nuveen LLC acquired a new position in shares of PPG Industries during the 1st quarter worth approximately $79,881,000. Virtu Financial LLC acquired a new position in shares of PPG Industries during the 1st quarter worth approximately $1,089,000. Fiduciary Family Office LLC acquired a new position in shares of PPG Industries during the 1st quarter worth approximately $268,000. Frank Rimerman Advisors LLC boosted its holdings in shares of PPG Industries by 10.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock worth $212,000 after purchasing an additional 189 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of PPG Industries by 771.3% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,960 shares of the specialty chemicals company’s stock worth $2,511,000 after purchasing an additional 20,325 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 0.8%

Shares of NYSE PPG opened at $106.94 on Monday. The firm has a market cap of $24.14 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.21 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The business’s 50 day moving average is $112.56 and its two-hundred day moving average is $111.14.

PPG Industries (NYSE:PPG) last posted 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 return on equity of 23.85% and a net margin of 6.25%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the company earned $2.50 earnings per share. The company’s revenue was down .9% on a year-over-year basis. Research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, August 11th. PPG Industries’s dividend payout ratio is currently 61.68%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PPG shares. Bank of America restated a “neutral” rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, May 12th. UBS Group lifted their price target on shares of PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company lifted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.82.

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.