IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 5,300 Shares of PPG Industries, Inc. (NYSE:PPG)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,471 shares of the specialty chemicals company's stock after acquiring an additional 5,300 shares during the quarter. PPG Industries accounts for 0.9% of IQ EQ FUND MANAGEMENT IRELAND Ltd's portfolio, making the stock its 23rd largest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in PPG Industries were worth $8,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company's stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares during the period. Dimensional Fund Advisors LP boosted its position in PPG Industries by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company's stock worth $276,576,000 after acquiring an additional 368,410 shares during the period. Federated Hermes Inc. increased its holdings in shares of PPG Industries by 91.0% in the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company's stock valued at $65,905,000 after purchasing an additional 249,406 shares during the period. SG Americas Securities LLC lifted its position in shares of PPG Industries by 549.0% in the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company's stock worth $32,246,000 after purchasing an additional 216,675 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in PPG Industries during the first quarter valued at approximately $31,033,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of research analyst reports. Mizuho cut their target price on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a research report on Thursday. Barclays lowered their target price on PPG Industries from $148.00 to $144.00 and set an "equal weight" rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada cut their price target on PPG Industries from $140.00 to $139.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets reduced their price target on PPG Industries from $165.00 to $161.00 and set an "outperform" rating for the company in a report on Monday, July 22nd. Finally, KeyCorp dropped their price objective on PPG Industries from $162.00 to $153.00 and set an "overweight" rating on the stock in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $151.00.

PPG Industries Price Performance

Shares of NYSE:PPG traded up $1.00 during midday trading on Thursday, reaching $131.36. 2,085,731 shares of the company's stock were exchanged, compared to its average volume of 1,598,650. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The firm has a market capitalization of $30.80 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The company's 50 day simple moving average is $126.73 and its two-hundred day simple moving average is $129.26.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the company earned $2.07 earnings per share. The business's revenue was down 1.5% compared to the same quarter last year. Equities research analysts expect that PPG Industries, Inc. will post 8.24 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.07%. PPG Industries's dividend payout ratio (DPR) is currently 45.95%.

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.