Friedenthal Financial Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Friedenthal Financial bought a new position in PPG Industries, Inc. (NYSE:PPG) during the first quarter, Holdings Channel.com reports. The institutional investor bought 9,009 shares of the specialty chemicals company’s stock, valued at approximately $985,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after purchasing an additional 756,937 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of PPG Industries during the 4th quarter valued at about $2,543,000. FourThought Financial Partners LLC bought a new position in shares of PPG Industries during the 4th quarter valued at about $458,000. Bell Asset Management Ltd bought a new position in shares of PPG Industries during the 4th quarter valued at about $6,955,000. Finally, Impax Asset Management Group plc increased its position in shares of PPG Industries by 7.0% during the 4th quarter. Impax Asset Management Group plc now owns 254,358 shares of the specialty chemicals company’s stock valued at $30,383,000 after purchasing an additional 16,567 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PPG has been the topic of several recent research reports. Wells Fargo & Company increased their price objective on PPG Industries from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. UBS Group increased their price objective on PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Bank of America restated a “neutral” rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their target price on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and an average price target of $129.83.

PPG Industries Trading Up 0.6%

NYSE PPG opened at $108.18 on Thursday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The stock has a 50 day simple moving average of $108.22 and a two-hundred day simple moving average of $113.18. The stock has a market cap of $24.56 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 2.43 and a beta of 1.17.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.10. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the business posted $1.87 EPS. The business’s revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries’s dividend payout ratio is currently 58.24%.

PPG Industries 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.