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

Lido Advisors LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 112.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,518 shares of the specialty chemicals company’s stock after purchasing an additional 7,164 shares during the period. Lido Advisors LLC’s holdings in PPG Industries were worth $1,445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Pzena Investment Management LLC increased its holdings in shares of PPG Industries by 306.2% during the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after buying an additional 5,351,103 shares during the last quarter. Franklin Resources Inc. grew its position in PPG Industries by 48.9% in the fourth quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock worth $716,256,000 after acquiring an additional 2,295,118 shares during the period. Norges Bank purchased a new position in PPG Industries in the fourth quarter worth approximately $209,355,000. First Trust Advisors LP increased its stake in PPG Industries by 321.4% during the first quarter. First Trust Advisors LP now owns 2,287,261 shares of the specialty chemicals company’s stock worth $244,462,000 after acquiring an additional 1,744,528 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in PPG Industries by 85.6% in the first quarter. Bank of New York Mellon Corp now owns 2,507,399 shares of the specialty chemicals company’s stock valued at $267,991,000 after purchasing an additional 1,156,078 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PPG shares. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $127.00 to $134.00 in a research note on Friday, July 17th. Royal Bank Of Canada boosted their price objective on shares of PPG Industries from $119.00 to $129.00 and gave the company a “sector perform” rating in a report on Wednesday, July 8th. The Goldman Sachs Group decreased their target price on shares of PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. BNP Paribas Exane increased their target price on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and an average target price of $126.13.

PPG Industries Trading Up 2.3%

Shares of NYSE PPG opened at $118.61 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $26.44 billion, a PE ratio of 16.92, a PEG ratio of 1.71 and a beta of 1.05. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The stock has a fifty day simple moving average of $116.08 and a 200-day simple moving average of $113.44.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.PPG Industries’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $1.72 EPS. On average, equities analysts forecast that PPG Industries, Inc. will post 7.93 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s dividend payout ratio is currently 42.23%.

About PPG Industries

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.