Slocum Gordon & Co LLP Purchases 155 Shares of PPG Industries, Inc. (NYSE:PPG)

Slocum Gordon & Co LLP increased its position in PPG Industries, Inc. (NYSE:PPG) by 51.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 455 shares of the specialty chemicals company’s stock after purchasing an additional 155 shares during the quarter. Slocum Gordon & Co LLP’s holdings in PPG Industries were worth $57,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Private Wealth Management Group LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $27,000. Richardson Financial Services Inc. bought a new stake in PPG Industries in the 4th quarter valued at $29,000. LifeSteps Financial Inc. acquired a new stake in PPG Industries during the 1st quarter valued at $29,000. YHB Investment Advisors Inc. bought a new position in PPG Industries during the first quarter worth $29,000. Finally, Financial Connections Group Inc. acquired a new position in shares of PPG Industries in the second quarter valued at $25,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 0.2 %

Shares of NYSE PPG opened at $125.57 on Friday. The stock has a market capitalization of $29.45 billion, a P/E ratio of 21.17, a PEG ratio of 1.75 and a beta of 1.26. The stock’s fifty day moving average is $125.63 and its 200 day moving average is $132.00. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period last year, the firm earned $2.25 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 2.17%. PPG Industries’s dividend payout ratio is presently 45.95%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. KeyCorp reduced their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Citigroup reduced their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Barclays lowered their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada reduced their price target on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets lowered their price objective on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.08.

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.