Chicago Partners Investment Group LLC Takes $215,000 Position in PPG Industries, Inc. (NYSE:PPG)

Chicago Partners Investment Group LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,017 shares of the specialty chemicals company’s stock, valued at approximately $215,000.

A number of other institutional investors have also recently modified their holdings of the business. LRI Investments LLC boosted its position in PPG Industries by 25.3% during the fourth quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 92 shares in the last quarter. Conning Inc. boosted its position in PPG Industries by 5.5% during the first quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 98 shares in the last quarter. Beacon Capital Management LLC boosted its position in PPG Industries by 37.1% during the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 101 shares in the last quarter. Chilton Capital Management LLC boosted its position in PPG Industries by 22.6% during the first quarter. Chilton Capital Management LLC now owns 576 shares of the specialty chemicals company’s stock worth $63,000 after purchasing an additional 106 shares in the last quarter. Finally, Motco lifted its position in shares of PPG Industries by 19.3% in the first quarter. Motco now owns 680 shares of the specialty chemicals company’s stock valued at $74,000 after acquiring an additional 110 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Up 2.1%

PPG opened at $108.73 on Wednesday. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The stock has a market cap of $24.54 billion, a P/E ratio of 24.66, a P/E/G ratio of 2.20 and a beta of 1.17. The stock’s 50 day moving average price is $112.43 and its 200 day moving average price is $111.01. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the firm earned $2.50 EPS. As a group, research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.6%. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date is Monday, August 11th. PPG Industries’s dividend payout ratio is 64.40%.

Analyst Ratings Changes

Several analysts have recently issued reports on PPG shares. Deutsche Bank Aktiengesellschaft upped their price objective on PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Bank of America restated a “neutral” rating and issued a $126.00 price objective (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Royal Bank Of Canada upped their price objective on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Fermium Researc upgraded PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. Finally, Citigroup upped their price objective on PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Nine 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.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.82.

About PPG Industries

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.