PPG Industries, Inc. (NYSE:PPG) Stake Boosted by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,453 shares of the specialty chemicals company’s stock after acquiring an additional 86 shares during the period. SeaCrest Wealth Management LLC’s holdings in PPG Industries were worth $435,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of PPG Industries during the 4th quarter valued at about $22,048,000. Daiwa Securities Group Inc. grew its position in PPG Industries by 7.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 23,101 shares of the specialty chemicals company’s stock worth $3,455,000 after acquiring an additional 1,560 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of PPG Industries by 84.6% during the 4th quarter. Federated Hermes Inc. now owns 60,987 shares of the specialty chemicals company’s stock worth $9,121,000 after purchasing an additional 27,949 shares during the last quarter. Xponance Inc. raised its holdings in shares of PPG Industries by 0.8% during the 4th quarter. Xponance Inc. now owns 35,986 shares of the specialty chemicals company’s stock valued at $5,382,000 after purchasing an additional 270 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in shares of PPG Industries by 8.6% in the 4th quarter. Greenleaf Trust now owns 5,775 shares of the specialty chemicals company’s stock valued at $864,000 after purchasing an additional 455 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PPG. KeyCorp cut their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. UBS Group upped their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Bank of America dropped their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Citigroup decreased their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Stock Performance

PPG stock traded up $1.62 during trading on Wednesday, reaching $124.62. 260,628 shares of the stock were exchanged, compared to its average volume of 1,645,730. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $29.07 billion, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 1.61 and a beta of 1.26. The stock has a 50 day simple moving average of $125.74 and a 200-day simple moving average of $132.96.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.02. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. PPG Industries’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.25 EPS. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, August 12th. PPG Industries’s dividend payout ratio (DPR) is presently 45.95%.

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.