PPG Industries, Inc. (NYSE:PPG) Stock Holdings Lifted by Tanager Wealth Management LLP

Tanager Wealth Management LLP boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 27.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,767 shares of the specialty chemicals company’s stock after buying an additional 592 shares during the quarter. Tanager Wealth Management LLP’s holdings in PPG Industries were worth $367,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries in the second quarter worth $25,000. Riverview Trust Co acquired a new stake in PPG Industries during the 1st quarter worth about $34,000. Rothschild Investment LLC purchased a new position in PPG Industries during the 2nd quarter valued at about $37,000. LRI Investments LLC increased its holdings in shares of PPG Industries by 463.8% in the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 320 shares during the period. Finally, Slocum Gordon & Co LLP lifted its position in shares of PPG Industries by 51.7% in the second quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock worth $57,000 after purchasing an additional 155 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

NYSE PPG opened at $126.28 on Thursday. The company’s fifty day moving average is $127.69 and its two-hundred day moving average is $128.83. 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 current ratio of 1.58 and a quick ratio of 1.05. The firm has a market capitalization of $29.46 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 1.93 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.58%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 earnings per share. Equities research analysts forecast that PPG Industries, Inc. will post 8.19 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. PPG Industries’s dividend payout ratio is currently 43.11%.

Analyst Ratings Changes

A number of brokerages recently commented on PPG. UBS Group boosted their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday. Mizuho cut their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada lowered their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Finally, Barclays cut their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.93.

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.