PPG Industries, Inc. $PPG Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 0.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 68,955 shares of the specialty chemicals company’s stock after selling 156 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in PPG Industries were worth $7,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Envestnet Asset Management Inc. grew its position in PPG Industries by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock valued at $27,311,000 after buying an additional 1,697 shares during the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of PPG Industries in the 1st quarter worth $240,000. Principal Financial Group Inc. boosted its holdings in shares of PPG Industries by 4.4% in the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock valued at $33,129,000 after acquiring an additional 12,650 shares in the last quarter. Meridian Wealth Management LLC increased its stake in shares of PPG Industries by 311.2% during the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock worth $838,000 after acquiring an additional 5,801 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in shares of PPG Industries by 966.3% during the first quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company’s stock worth $97,000 after acquiring an additional 802 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 2.1%

PPG Industries stock opened at $105.66 on Tuesday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $130.05. The firm has a market capitalization of $23.85 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. The stock’s fifty day moving average is $106.66 and its two-hundred day moving average is $109.04. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting the consensus estimate of $2.22. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 EPS. Analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PPG. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. UBS Group reduced their price target on PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Mizuho decreased their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Citigroup cut their price objective on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Finally, Wells Fargo & Company reduced their target price on PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus target price of $125.00.

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.