PPG Industries Inc. (NYSE:PPG) shares gapped up prior to trading on Tuesday . The stock had previously closed at $104.89, but opened at $105.21. PPG Industries shares last traded at $106.09, with a volume of 691,828 shares changing hands.

Several brokerages have commented on PPG. Credit Suisse Group AG reissued a “buy” rating and issued a $115.00 price target on shares of PPG Industries in a report on Tuesday, August 9th. Seaport Global Securities upgraded shares of PPG Industries from an “accumulate” rating to a “buy” rating and raised their price objective for the company from $125.00 to $130.00 in a research report on Tuesday, July 26th. Jefferies Group restated a “buy” rating and set a $129.00 price objective (up previously from $127.00) on shares of PPG Industries in a research report on Monday, July 25th. Zacks Investment Research cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, Longbow Research upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Thursday, June 23rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $121.17.

The stock has a market cap of $28.34 billion and a PE ratio of 19.67. The stock’s 50-day moving average price is $105.74 and its 200-day moving average price is $106.10.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.85 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.85. During the same period last year, the company earned $1.67 earnings per share. The firm earned $4.10 billion during the quarter, compared to analysts’ expectations of $4.17 billion. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts expect that PPG Industries Inc. will post $6.20 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Wednesday, August 10th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, August 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.50%.

In related news, VP Timothy M. Knavish sold 9,300 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $104.08, for a total transaction of $967,944.00. Following the completion of the transaction, the vice president now owns 11,806 shares in the company, valued at $1,228,768.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Viktoras R. Sekmakas sold 40,950 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $106.64, for a total transaction of $4,366,908.00. Following the transaction, the insider now owns 69,044 shares of the company’s stock, valued at approximately $7,362,852.16. The disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of PPG Industries by 45.4% in the fourth quarter. Victory Capital Management Inc. now owns 12,268 shares of the company’s stock worth $1,212,000 after buying an additional 3,833 shares in the last quarter. Employees Retirement System of Texas raised its position in shares of PPG Industries by 21.7% in the fourth quarter. Employees Retirement System of Texas now owns 21,900 shares of the company’s stock worth $2,164,000 after buying an additional 3,900 shares in the last quarter. BlackRock Advisors LLC raised its position in shares of PPG Industries by 13.0% in the fourth quarter. BlackRock Advisors LLC now owns 352,481 shares of the company’s stock worth $34,832,000 after buying an additional 40,595 shares in the last quarter. American International Group Inc. raised its position in shares of PPG Industries by 1.6% in the fourth quarter. American International Group Inc. now owns 123,927 shares of the company’s stock worth $12,246,000 after buying an additional 1,998 shares in the last quarter. Finally, Calvert Investment Management Inc. raised its position in shares of PPG Industries by 45.7% in the fourth quarter. Calvert Investment Management Inc. now owns 19,597 shares of the company’s stock worth $1,937,000 after buying an additional 6,149 shares in the last quarter.

PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.

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