Qsemble Capital Management LP Buys 30,737 Shares of PPG Industries, Inc. (NYSE:PPG)

Qsemble Capital Management LP increased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 290.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 41,316 shares of the specialty chemicals company’s stock after purchasing an additional 30,737 shares during the period. PPG Industries makes up 1.0% of Qsemble Capital Management LP’s portfolio, making the stock its 3rd largest holding. Qsemble Capital Management LP’s holdings in PPG Industries were worth $5,201,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries in the 2nd quarter worth $25,000. Private Wealth Management Group LLC purchased a new position in PPG Industries during the fourth quarter worth about $27,000. LifeSteps Financial Inc. purchased a new stake in PPG Industries in the 1st quarter valued at approximately $29,000. YHB Investment Advisors Inc. acquired a new position in PPG Industries during the 1st quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of PPG Industries during the 4th quarter worth approximately $29,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on PPG. Citigroup lowered their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. UBS Group raised their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Barclays lowered their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets dropped their price target 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. Finally, KeyCorp decreased their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Stock Performance

NYSE:PPG opened at $125.50 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The firm has a market cap of $29.43 billion, a PE ratio of 21.20, a P/E/G ratio of 1.68 and a beta of 1.26. The firm has a 50 day simple moving average of $125.69 and a 200-day simple moving average of $131.44. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16.

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

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be issued a $0.68 dividend. 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 yield of 2.17%. PPG Industries’s payout ratio is 45.95%.

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.