7,292 Shares in PPG Industries, Inc. $PPG Acquired by Lombard Odier Asset Management Switzerland SA

Lombard Odier Asset Management Switzerland SA acquired a new stake in PPG Industries, Inc. (NYSE:PPG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,292 shares of the specialty chemicals company’s stock, valued at approximately $779,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. State Street Corp grew its stake in PPG Industries by 4.6% during the 4th quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock valued at $1,314,529,000 after acquiring an additional 565,523 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of PPG Industries by 5.4% in the first quarter. Pzena Investment Management LLC now owns 7,478,646 shares of the specialty chemicals company’s stock valued at $799,318,000 after purchasing an additional 379,879 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of PPG Industries by 48.9% in the fourth quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after purchasing an additional 2,295,118 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of PPG Industries by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock valued at $644,537,000 after purchasing an additional 26,793 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in PPG Industries by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 5,809,127 shares of the specialty chemicals company’s stock worth $592,859,000 after buying an additional 135,529 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PPG. BNP Paribas Exane boosted their price objective on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. JPMorgan Chase & Co. lowered their price target on shares of PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Wells Fargo & Company decreased their target price on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, April 10th. Royal Bank Of Canada raised their price target on shares of PPG Industries from $119.00 to $129.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $126.13.

PPG Industries Stock Performance

Shares of PPG stock opened at $118.61 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61. The firm has a market cap of $26.44 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.71 and a beta of 1.05. The firm’s 50 day moving average price is $116.08 and its 200-day moving average price is $113.44. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter last year, the firm earned $1.72 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.93 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued a $0.74 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.5%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio (DPR) is presently 42.23%.

PPG Industries Company Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.