Headlands Technologies LLC Acquires New Position in PPG Industries, Inc. (NYSE:PPG)

Headlands Technologies LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 271 shares of the specialty chemicals company’s stock, valued at approximately $30,000.

A number of other hedge funds also recently made changes to their positions in PPG. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the 4th quarter valued at approximately $26,000. Cheviot Value Management LLC bought a new position in PPG Industries in the 1st quarter worth approximately $26,000. CVA Family Office LLC boosted its stake in PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 113 shares during the period. Financial Connections Group Inc. boosted its stake in PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 150 shares during the period. Finally, Beacon Capital Management LLC boosted its stake in PPG Industries by 37.1% in the 1st 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 during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

NYSE:PPG opened at $112.54 on Thursday. The stock’s fifty day moving average is $112.44 and its 200 day moving average is $111.02. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The firm has a market capitalization of $25.40 billion, a PE ratio of 25.52, a PEG ratio of 2.25 and a beta of 1.17. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the firm posted $2.50 EPS. PPG Industries’s quarterly revenue was down .9% compared to the same quarter last year. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be paid a $0.71 dividend. The ex-dividend date 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 2.5%. PPG Industries’s payout ratio is 64.40%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PPG. JPMorgan Chase & Co. dropped their price target on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Royal Bank Of Canada upped their price target on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. Citigroup upped their price target on PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Fermium Researc upgraded PPG Industries to a “strong-buy” rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company increased their target price on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.