Vontobel Holding Ltd. Raises Holdings in PPG Industries, Inc. (NYSE:PPG)

Vontobel Holding Ltd. grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 7.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,426 shares of the specialty chemicals company’s stock after buying an additional 227 shares during the period. Vontobel Holding Ltd.’s holdings in PPG Industries were worth $454,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vest Financial LLC lifted its position in shares of PPG Industries by 28.9% during the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after buying an additional 75,620 shares during the last quarter. BDF Gestion purchased a new position in shares of PPG Industries during the 2nd quarter valued at $3,452,000. State Board of Administration of Florida Retirement System lifted its holdings in PPG Industries by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock worth $36,620,000 after purchasing an additional 22,079 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after purchasing an additional 4,222,402 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in PPG Industries by 188.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,074 shares of the specialty chemicals company’s stock worth $1,460,000 after purchasing an additional 6,584 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $126.60 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $29.54 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The business’s 50-day moving average price is $127.56 and its 200-day moving average price is $128.85. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.58% and a net margin of 8.24%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts forecast that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of recent research reports. UBS Group increased their price objective on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Mizuho dropped their price objective on 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 dropped their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada dropped their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday. Finally, Citigroup dropped their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Profile

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.