PPG Industries, Inc. (NYSE:PPG) Shares Bought by Shelton Capital Management

Shelton Capital Management grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 34.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,088 shares of the specialty chemicals company’s stock after acquiring an additional 530 shares during the quarter. Shelton Capital Management’s holdings in PPG Industries were worth $310,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PPG. Prospector Partners LLC increased its stake in PPG Industries by 6.2% during the 2nd quarter. Prospector Partners LLC now owns 103,762 shares of the specialty chemicals company’s stock valued at $15,388,000 after purchasing an additional 6,050 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of PPG Industries by 18.6% during the second quarter. Russell Investments Group Ltd. now owns 208,546 shares of the specialty chemicals company’s stock valued at $30,766,000 after buying an additional 32,663 shares during the last quarter. Ledyard National Bank increased its position in shares of PPG Industries by 9.7% in the 2nd quarter. Ledyard National Bank now owns 2,331 shares of the specialty chemicals company’s stock valued at $346,000 after acquiring an additional 206 shares during the period. Moors & Cabot Inc. grew its stake in PPG Industries by 1.4% during the 2nd quarter. Moors & Cabot Inc. now owns 12,030 shares of the specialty chemicals company’s stock valued at $1,784,000 after purchasing an additional 161 shares during the last quarter. Finally, Nwam LLC increased its holdings in shares of PPG Industries by 0.8% in the second quarter. Nwam LLC now owns 13,906 shares of the specialty chemicals company’s stock valued at $2,062,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 79.18% of the company’s stock.

PPG Industries Trading Down 0.2 %

Shares of PPG opened at $135.56 on Tuesday. The firm’s fifty day moving average is $129.16 and its two-hundred day moving average is $137.15. The stock has a market cap of $31.97 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.14 and a beta of 1.22. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.94 by $0.13. PPG Industries had a return on equity of 23.51% and a net margin of 7.84%. The firm had revenue of $4.64 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the firm earned $1.66 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts forecast that PPG Industries, Inc. will post 7.64 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, November 9th. This represents a $2.60 annualized dividend and a dividend yield of 1.92%. PPG Industries’s payout ratio is 43.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PPG. BMO Capital Markets increased their price target on shares of PPG Industries from $158.00 to $165.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Morgan Stanley raised their price objective on shares of PPG Industries from $143.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Monday, July 24th. Citigroup decreased their target price on shares of PPG Industries from $154.00 to $152.00 and set a “buy” rating for the company in a research note on Friday, October 20th. StockNews.com initiated coverage on shares of PPG Industries in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada raised their target price on PPG Industries from $145.00 to $158.00 and gave the company a “sector perform” rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.44.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.