Pacer Advisors Inc. Purchases 14,926 Shares of PPG Industries, Inc. (NYSE:PPG)

Pacer Advisors Inc. raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 292.0% in the second quarter, Holdings Channel reports. The firm owned 20,037 shares of the specialty chemicals company’s stock after acquiring an additional 14,926 shares during the quarter. Pacer Advisors Inc.’s holdings in PPG Industries were worth $2,125,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Clearbridge Investments LLC increased its stake in PPG Industries by 16.9% during the 1st quarter. Clearbridge Investments LLC now owns 6,571,310 shares of the specialty chemicals company’s stock valued at $549,362,000 after purchasing an additional 947,678 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of PPG Industries by 2.5% in the first quarter. Wells Fargo & Company MN now owns 3,406,797 shares of the specialty chemicals company’s stock worth $284,809,000 after acquiring an additional 83,052 shares during the period. Geode Capital Management LLC grew its stake in shares of PPG Industries by 1.1% in the first quarter. Geode Capital Management LLC now owns 3,238,894 shares of the specialty chemicals company’s stock worth $270,171,000 after acquiring an additional 35,485 shares during the period. Fiduciary Management Inc. WI grew its stake in shares of PPG Industries by 5.5% in the first quarter. Fiduciary Management Inc. WI now owns 2,517,337 shares of the specialty chemicals company’s stock worth $210,449,000 after acquiring an additional 131,853 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of PPG Industries by 52.5% in the first quarter. Nuveen Asset Management LLC now owns 2,372,351 shares of the specialty chemicals company’s stock worth $198,329,000 after acquiring an additional 816,465 shares during the period. Institutional investors and hedge funds own 76.83% of the company’s stock.

PPG stock opened at $107.65 on Friday. PPG Industries, Inc. has a one year low of $69.77 and a one year high of $134.36. The company’s fifty day moving average price is $107.27 and its 200-day moving average price is $104.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.03 and a current ratio of 1.35. The company has a market capitalization of $25.40 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 3.79 and a beta of 1.27.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 16th. The specialty chemicals company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.70 by $0.29. PPG Industries had a net margin of 7.23% and a return on equity of 23.88%. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. On average, research analysts predict that PPG Industries, Inc. will post 4.73 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be given a dividend of $0.54 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 7th. This represents a $2.16 dividend on an annualized basis and a yield of 2.01%. PPG Industries’s payout ratio is 32.80%.

Several analysts recently issued reports on PPG shares. Barclays boosted their target price on shares of PPG Industries from $106.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Argus boosted their target price on shares of PPG Industries from $108.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, July 20th. UBS Group boosted their target price on shares of PPG Industries from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, June 19th. Robert W. Baird boosted their target price on shares of PPG Industries from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Finally, Citigroup boosted their target price on shares of PPG Industries from $107.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $118.56.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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