PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Jacobi Capital Management LLC

Jacobi Capital Management LLC increased its stake in shares of PPG Industries, Inc. (NYSE:PPGGet Rating) by 7.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,954 shares of the specialty chemicals company’s stock after acquiring an additional 413 shares during the quarter. Jacobi Capital Management LLC’s holdings in PPG Industries were worth $780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPG. BlackRock Inc. raised its position in PPG Industries by 3.4% in the 4th quarter. BlackRock Inc. now owns 21,452,009 shares of the specialty chemicals company’s stock valued at $3,699,182,000 after purchasing an additional 698,561 shares during the last quarter. State Street Corp increased its stake in PPG Industries by 3.0% in the fourth quarter. State Street Corp now owns 11,498,215 shares of the specialty chemicals company’s stock valued at $1,982,752,000 after purchasing an additional 338,189 shares during the period. Geode Capital Management LLC boosted its stake in shares of PPG Industries by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,295,613 shares of the specialty chemicals company’s stock worth $738,738,000 after buying an additional 134,125 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of PPG Industries by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,127,625 shares of the specialty chemicals company’s stock worth $539,330,000 after buying an additional 21,358 shares during the period. Finally, Ceredex Value Advisors LLC grew its holdings in shares of PPG Industries by 15.1% during the first quarter. Ceredex Value Advisors LLC now owns 1,677,216 shares of the specialty chemicals company’s stock worth $219,833,000 after buying an additional 220,471 shares during the last quarter. 79.12% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

NYSE PPG opened at $127.36 on Friday. The business has a 50 day moving average price of $120.60 and a 200 day moving average price of $130.07. The company has a market capitalization of $29.93 billion, a P/E ratio of 27.93, a PEG ratio of 2.63 and a beta of 1.17. PPG Industries, Inc. has a 1-year low of $107.06 and a 1-year high of $177.32. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.50 and a quick ratio of 1.02.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Wednesday, August 10th will be given a $0.62 dividend. The ex-dividend date is Tuesday, August 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from PPG Industries’s previous quarterly dividend of $0.59. PPG Industries’s dividend payout ratio (DPR) is currently 51.75%.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective on PPG Industries from $175.00 to $150.00 and set an “equal weight” rating for the company in a research report on Monday, April 25th. Vertical Research upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research report on Monday, June 27th. Berenberg Bank downgraded shares of PPG Industries from a “buy” rating to a “hold” rating and cut their price objective for the stock from $180.00 to $140.00 in a research report on Friday, May 20th. Credit Suisse Group lowered their target price on shares of PPG Industries to $110.00 in a report on Friday, July 22nd. Finally, Robert W. Baird cut their price target on shares of PPG Industries from $200.00 to $180.00 in a report on Monday, April 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $155.18.

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.

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

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