PPG Industries, Inc. $PPG Shares Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its position in PPG Industries, Inc. (NYSE:PPG) by 253.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 30,129 shares of the specialty chemicals company’s stock after purchasing an additional 21,596 shares during the period. OMERS ADMINISTRATION Corp’s holdings in PPG Industries were worth $3,220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its stake in PPG Industries by 9.1% in the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after acquiring an additional 339 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in PPG Industries by 31.4% during the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock worth $421,000 after acquiring an additional 920 shares during the last quarter. Empowered Funds LLC raised its position in PPG Industries by 6.1% during the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after acquiring an additional 1,526 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of PPG Industries by 40.7% in the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock valued at $2,143,000 after purchasing an additional 5,667 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in shares of PPG Industries by 6.2% in the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock valued at $722,000 after purchasing an additional 371 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

NYSE:PPG opened at $118.61 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. The firm has a market cap of $26.44 billion, a PE ratio of 16.92, a P/E/G ratio of 1.71 and a beta of 1.05. The firm has a 50 day simple moving average of $116.08 and a 200-day simple moving average of $113.44. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. PPG Industries’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.72 earnings per share. On average, equities analysts expect that PPG Industries, Inc. will post 7.93 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.5%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries’s payout ratio is 42.23%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PPG. Royal Bank Of Canada raised their price objective on shares of PPG Industries from $119.00 to $129.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 8th. Mizuho increased their target price on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and raised their price target for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. Wall Street Zen upgraded PPG Industries from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, BMO Capital Markets decreased their price objective on PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $126.13.

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.