Deuterium Capital Management LLC Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Deuterium Capital Management LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,754 shares of the specialty chemicals company’s stock, valued at approximately $368,000.

Other hedge funds have also made changes to their positions in the company. Vontobel Holding Ltd. lifted its stake in shares of PPG Industries by 51.9% during the 1st quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock worth $797,000 after purchasing an additional 2,048 shares during the last quarter. Sei Investments Co. lifted its stake in shares of PPG Industries by 14.7% during the 1st quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock worth $3,099,000 after purchasing an additional 3,025 shares during the last quarter. Prudential PLC purchased a new stake in shares of PPG Industries during the 1st quarter worth $619,000. Vanguard Group Inc. lifted its stake in shares of PPG Industries by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock worth $2,645,019,000 after purchasing an additional 252,358 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in shares of PPG Industries by 7.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock worth $2,553,000 after purchasing an additional 1,283 shares during the last quarter. 79.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Vincent J. Morales sold 3,700 shares of PPG Industries stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $143.33, for a total value of $530,321.00. Following the completion of the transaction, the chief financial officer now directly owns 22,665 shares in the company, valued at $3,248,574.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other PPG Industries news, CFO Vincent J. Morales sold 3,700 shares of PPG Industries stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $143.33, for a total transaction of $530,321.00. Following the completion of the sale, the chief financial officer now directly owns 22,665 shares of the company’s stock, valued at approximately $3,248,574.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael H. Mcgarry sold 58,378 shares of PPG Industries stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $145.46, for a total value of $8,491,663.88. Following the sale, the chairman now directly owns 195,706 shares of the company’s stock, valued at $28,467,394.76. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

PPG Industries Price Performance

Shares of NYSE PPG traded up $0.57 during midday trading on Friday, hitting $136.75. The stock had a trading volume of 175,522 shares, compared to its average volume of 1,476,896. The company has a market capitalization of $32.21 billion, a PE ratio of 24.43, a P/E/G ratio of 1.10 and a beta of 1.18. The stock has a 50 day simple moving average of $143.45 and a 200-day simple moving average of $138.54. PPG Industries, Inc. has a 1 year low of $107.40 and a 1 year high of $152.89. The company has a quick ratio of 1.03, a current ratio of 1.49 and a debt-to-equity ratio of 0.78.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Friday, July 21st. The specialty chemicals company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.14 by $0.11. PPG Industries had a return on equity of 23.59% and a net margin of 7.38%. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.51 EPS for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.65 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, August 9th. This represents a $2.60 annualized dividend and a yield of 1.90%. PPG Industries’s dividend payout ratio (DPR) is 46.68%.

Wall Street Analysts Forecast Growth

PPG has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on PPG Industries from $150.00 to $145.00 in a research report on Thursday, May 25th. Morgan Stanley upped their target price on PPG Industries from $143.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, July 24th. BMO Capital Markets upped their target price on PPG Industries from $158.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Mizuho upped their target price on PPG Industries from $152.00 to $166.00 in a research report on Thursday, July 20th. Finally, KeyCorp upped their target price on PPG Industries from $171.00 to $172.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $156.47.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.