Versor Investments LP Raises Holdings in PPG Industries, Inc. (NYSE:PPG)

Versor Investments LP boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 6.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,397 shares of the specialty chemicals company’s stock after buying an additional 630 shares during the quarter. Versor Investments LP’s holdings in PPG Industries were worth $1,309,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PPG. Financial Connections Group Inc. purchased a new stake in shares of PPG Industries during the second quarter worth about $25,000. Private Wealth Management Group LLC purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $27,000. LifeSteps Financial Inc. acquired a new stake in PPG Industries during the first quarter worth approximately $29,000. YHB Investment Advisors Inc. purchased a new stake in PPG Industries in the 1st quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. acquired a new position in PPG Industries in the 4th quarter valued at $29,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 0.7 %

Shares of NYSE PPG traded up $0.89 during midday trading on Monday, reaching $129.73. 2,175,000 shares of the company’s stock were exchanged, compared to its average volume of 1,628,780. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The business’s fifty day moving average price is $125.51 and its two-hundred day moving average price is $132.27. The stock has a market capitalization of $30.27 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26.

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

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be given a dividend of $0.68 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.10%. PPG Industries’s dividend payout ratio (DPR) is presently 45.95%.

Analyst Ratings Changes

PPG has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price objective on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. UBS Group raised their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Royal Bank of Canada lowered their target price on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. Barclays cut their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Finally, KeyCorp lowered their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

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.