PPG Industries, Inc. (NYSE:PPG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.9% during the 1st quarter, HoldingsChannel reports. The firm owned 26,976 shares of the specialty chemicals company’s stock after selling 814 shares during the period. Mutual of America Capital Management LLC’s holdings in PPG Industries were worth $2,950,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in PPG Industries by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock worth $27,311,000 after purchasing an additional 1,697 shares during the last quarter. Clear Creek Financial Management LLC acquired a new position in shares of PPG Industries during the 1st quarter valued at about $240,000. Vanguard Group Inc. boosted 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 acquiring an additional 756,937 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of PPG Industries by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock valued at $33,129,000 after acquiring an additional 12,650 shares during the last quarter. Finally, Bell Asset Management Ltd acquired a new position in shares of PPG Industries during the 4th quarter valued at about $6,955,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Down 1.3%

Shares of PPG opened at $114.51 on Friday. The firm has a market cap of $25.99 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 2.43 and a beta of 1.16. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company’s 50-day moving average price is $113.18 and its 200 day moving average price is $112.04. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

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

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a yield of 2.48%. PPG Industries’s dividend payout ratio is 58.24%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Mizuho boosted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Citigroup boosted their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Bank of America reissued a “neutral” rating and set a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.42.

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.