Raymond James & Associates Has $80.44 Million Position in PPG Industries, Inc. (NYSE:PPG)

Raymond James & Associates raised its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,248 shares of the specialty chemicals company's stock after purchasing an additional 8,188 shares during the period. Raymond James & Associates owned about 0.26% of PPG Industries worth $80,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. lifted its stake in PPG Industries by 46.3% in the third quarter. Blue Trust Inc. now owns 3,633 shares of the specialty chemicals company's stock valued at $457,000 after buying an additional 1,149 shares during the last quarter. Stratos Wealth Advisors LLC boosted its holdings in shares of PPG Industries by 6.7% in the third quarter. Stratos Wealth Advisors LLC now owns 2,970 shares of the specialty chemicals company's stock valued at $393,000 after acquiring an additional 187 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in shares of PPG Industries during the third quarter worth about $268,000. V Square Quantitative Management LLC lifted its position in PPG Industries by 18.3% in the third quarter. V Square Quantitative Management LLC now owns 5,060 shares of the specialty chemicals company's stock valued at $670,000 after purchasing an additional 781 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in PPG Industries by 11.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,871 shares of the specialty chemicals company's stock worth $3,427,000 after purchasing an additional 2,652 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Price Performance

PPG traded down $2.11 on Monday, reaching $128.83. The company had a trading volume of 1,291,681 shares, compared to its average volume of 1,600,070. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a market capitalization of $30.21 billion, a P/E ratio of 21.76, a PEG ratio of 1.73 and a beta of 1.26. The company has a fifty day moving average of $127.41 and a 200-day moving average of $128.93. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the business posted $2.07 EPS. The business's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 8.24 earnings per share for the current 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 given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Tuesday, November 12th. PPG Industries's dividend payout ratio (DPR) is currently 45.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PPG shares. Mizuho dropped their price objective on PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday. Bank of America reduced their target price on PPG Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada decreased their price target on shares of PPG Industries from $140.00 to $139.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 23rd. BMO Capital Markets restated an "outperform" rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday. Finally, UBS Group lifted their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of "Moderate Buy" and an average target price of $150.14.

About PPG Industries

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.