International Assets Investment Management LLC Raises Holdings in PPG Industries, Inc. (NYSE:PPG)

International Assets Investment Management LLC lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 189.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 426,834 shares of the specialty chemicals company's stock after buying an additional 279,455 shares during the period. International Assets Investment Management LLC owned approximately 0.18% of PPG Industries worth $56,538,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vicus Capital bought a new position in shares of PPG Industries during the 1st quarter valued at $332,000. LVW Advisors LLC purchased a new position in PPG Industries in the first quarter worth about $233,000. Allspring Global Investments Holdings LLC grew its stake in shares of PPG Industries by 1.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,230 shares of the specialty chemicals company's stock valued at $2,207,000 after purchasing an additional 276 shares during the period. Applied Capital LLC FL increased its holdings in PPG Industries by 1.3% during the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company's stock valued at $928,000 after buying an additional 82 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of PPG Industries in the 1st quarter worth $31,033,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Up 0.7 %

PPG stock traded up $0.94 during trading on Monday, hitting $127.39. The company had a trading volume of 1,255,796 shares, compared to its average volume of 1,589,995. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a 50 day simple moving average of $127.87 and a 200-day simple moving average of $128.56. The firm has a market capitalization of $29.55 billion, a P/E ratio of 20.23, a PEG ratio of 1.93 and a beta of 1.26. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts' consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analysts' expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business's revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $2.07 earnings per share. As a group, research analysts forecast that PPG Industries, Inc. will post 8.19 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. Shareholders of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's dividend payout ratio is 43.11%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 22nd. BMO Capital Markets reaffirmed an "outperform" rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Mizuho decreased their price objective on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a research report on Thursday, October 17th. Citigroup dropped their target price on shares of PPG Industries from $145.00 to $144.00 and set a "buy" rating for the company in a report on Monday, July 22nd. Finally, Bank of America dropped their price objective on PPG Industries from $152.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, PPG Industries currently has an average rating of "Moderate Buy" and a consensus price target of $149.93.

PPG Industries Company 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.