Vest Financial LLC Acquires 54,429 Shares of PPG Industries, Inc. (NYSE:PPG)

Vest Financial LLC lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 16.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 392,155 shares of the specialty chemicals company's stock after acquiring an additional 54,429 shares during the quarter. Vest Financial LLC owned 0.17% of PPG Industries worth $51,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PPG. Wedmont Private Capital raised its holdings in PPG Industries by 4.3% during the 1st quarter. Wedmont Private Capital now owns 2,571 shares of the specialty chemicals company's stock worth $366,000 after buying an additional 107 shares during the period. Park Avenue Securities LLC increased its position in shares of PPG Industries by 7.8% in the first quarter. Park Avenue Securities LLC now owns 5,611 shares of the specialty chemicals company's stock worth $813,000 after acquiring an additional 406 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of PPG Industries by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 19,439 shares of the specialty chemicals company's stock valued at $2,816,000 after acquiring an additional 140 shares during the period. &PARTNERS purchased a new stake in shares of PPG Industries in the 1st quarter valued at approximately $563,000. Finally, Riverview Trust Co acquired a new position in PPG Industries in the 1st quarter worth approximately $34,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PPG shares. UBS Group boosted their target price on shares of PPG Industries from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, July 19th. Bank of America dropped their price target on PPG Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets set a $160.00 price objective on PPG Industries in a research report on Thursday. Mizuho lowered their target price on PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Citigroup reduced their price target on shares of PPG Industries from $145.00 to $144.00 and set a "buy" rating for the company in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $150.50.

PPG Industries Stock Down 0.3 %

NYSE:PPG traded down $0.43 during trading hours on Friday, reaching $130.93. The company's stock had a trading volume of 2,174,631 shares, compared to its average volume of 1,601,597. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The company has a market cap of $30.55 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The business's 50-day moving average is $127.21 and its 200-day moving average is $129.01.

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

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's dividend payout ratio is currently 44.59%.

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.