IFM Investors Pty Ltd Purchases 19,698 Shares of PPG Industries, Inc. (NYSE:PPG)

IFM Investors Pty Ltd lifted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 37.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,945 shares of the specialty chemicals company’s stock after acquiring an additional 19,698 shares during the period. IFM Investors Pty Ltd’s holdings in PPG Industries were worth $9,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Financial Connections Group Inc. bought a new stake in shares of PPG Industries in the 2nd quarter worth $25,000. Rothschild Investment LLC purchased a new position in PPG Industries in the 2nd quarter worth about $37,000. LRI Investments LLC lifted its stake in PPG Industries by 463.8% during the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares during the period. Slocum Gordon & Co LLP boosted its holdings in shares of PPG Industries by 51.7% during the 2nd quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock valued at $57,000 after acquiring an additional 155 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. grew its stake in shares of PPG Industries by 103.6% in the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock worth $58,000 after acquiring an additional 203 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $127.23 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The stock’s 50-day simple moving average is $127.69 and its 200-day simple moving average is $128.83. The company has a market capitalization of $29.52 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.94 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the company earned $2.07 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, analysts expect that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Mizuho dropped their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Bank of America cut their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. KeyCorp dropped their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. UBS Group upped their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, Barclays cut their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.93.

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.