Oppenheimer & Co. Inc. Raises Holdings in PPG Industries, Inc. (PPG)

Oppenheimer & Co. Inc. boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 7,806 shares of the specialty chemicals company’s stock after acquiring an additional 406 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in PPG Industries were worth $881,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PPG. TD Asset Management Inc. lifted its holdings in shares of PPG Industries by 0.9% in the 4th quarter. TD Asset Management Inc. now owns 72,609 shares of the specialty chemicals company’s stock valued at $7,423,000 after buying an additional 616 shares during the period. Putnam FL Investment Management Co. purchased a new position in shares of PPG Industries in the 4th quarter valued at about $213,000. Janney Montgomery Scott LLC increased its stake in shares of PPG Industries by 1.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 126,124 shares of the specialty chemicals company’s stock valued at $12,894,000 after purchasing an additional 1,867 shares in the last quarter. G&S Capital LLC increased its stake in shares of PPG Industries by 13.9% in the 4th quarter. G&S Capital LLC now owns 1,275 shares of the specialty chemicals company’s stock valued at $130,000 after purchasing an additional 156 shares in the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of PPG Industries in the 4th quarter valued at about $45,000. 79.65% of the stock is owned by institutional investors.

NYSE:PPG opened at $117.63 on Friday. PPG Industries, Inc. has a 12 month low of $94.37 and a 12 month high of $121.29. The company has a quick ratio of 0.97, a current ratio of 1.40 and a debt-to-equity ratio of 0.92. The company has a market cap of $27.77 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.05 and a beta of 1.19.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.17. PPG Industries had a return on equity of 28.72% and a net margin of 8.67%. The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the business earned $1.39 EPS. PPG Industries’s quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts forecast that PPG Industries, Inc. will post 6.31 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.92 annualized dividend and a yield of 1.63%. PPG Industries’s dividend payout ratio (DPR) is currently 32.43%.

Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded PPG Industries from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research note on Wednesday, April 24th. Buckingham Research lifted their price target on PPG Industries from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Barclays lifted their price target on PPG Industries from $115.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Deutsche Bank lifted their price target on PPG Industries from $120.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. They noted that the move was a valuation call. Finally, KeyCorp lifted their price target on PPG Industries from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $118.32.

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PPG Industries 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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