397 Shares in PPG Industries, Inc. (NYSE:PPG) Bought by Belpointe Asset Management LLC

Belpointe Asset Management LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 397 shares of the specialty chemicals company’s stock, valued at approximately $50,000.

Several other institutional investors have also modified their holdings of the stock. First Trust Advisors LP boosted its stake in shares of PPG Industries by 280.6% in the first quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock worth $227,393,000 after acquiring an additional 1,279,104 shares during the last quarter. Putnam Investments LLC grew its holdings in shares of PPG Industries by 33.8% during the third quarter. Putnam Investments LLC now owns 2,533,859 shares of the specialty chemicals company’s stock worth $280,473,000 after buying an additional 639,404 shares in the last quarter. Boston Partners raised its position in shares of PPG Industries by 36.2% in the third quarter. Boston Partners now owns 1,985,929 shares of the specialty chemicals company’s stock valued at $219,819,000 after buying an additional 527,327 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of PPG Industries by 742.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 459,096 shares of the specialty chemicals company’s stock worth $57,324,000 after buying an additional 404,571 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in PPG Industries by 1.3% during the first quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock worth $2,645,019,000 after acquiring an additional 252,358 shares during the last quarter. Institutional investors and hedge funds own 80.04% of the company’s stock.

PPG Industries Stock Down 2.7 %

Shares of NYSE PPG opened at $136.88 on Wednesday. The stock has a market cap of $32.22 billion, a P/E ratio of 25.54, a PEG ratio of 1.21 and a beta of 1.17. The business’s fifty day simple moving average is $136.01 and its 200-day simple moving average is $131.61. PPG Industries, Inc. has a 12-month low of $107.06 and a 12-month high of $145.51. The company has a current ratio of 1.68, a quick ratio of 1.15 and a debt-to-equity ratio of 0.98.

PPG Industries (NYSE:PPG – Get Rating) last announced its quarterly earnings data on Friday, April 21st. The specialty chemicals company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.27. PPG Industries had a return on equity of 23.35% and a net margin of 7.18%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter last year, the business posted $1.37 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts predict that PPG Industries, Inc. will post 7.25 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Wednesday, May 10th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Tuesday, May 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.81%. PPG Industries’s payout ratio is currently 46.27%.

Analysts Set New Price Targets

PPG has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of PPG Industries from $140.00 to $143.00 in a research note on Monday, April 24th. JPMorgan Chase & Co. upgraded PPG Industries from a “neutral” rating to an “overweight” rating and upped their target price for the company from $130.00 to $156.00 in a report on Monday, April 24th. BMO Capital Markets lifted their price target on PPG Industries from $151.00 to $158.00 in a report on Tuesday, April 25th. Credit Suisse Group upped their price objective on shares of PPG Industries from $128.00 to $133.00 and gave the company an “underperform” rating in a report on Friday, April 21st. Finally, StockNews.com assumed coverage on shares of PPG Industries in a research note on Thursday, May 18th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.17.

PPG Industries Profile

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.