Shares of PPG Industries Inc. (NYSE:PPG) gapped up before the market opened 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.

A number of brokerages recently commented on PPG. Morgan Stanley restated a “hold” rating on shares of PPG Industries in a report on Thursday, June 16th. Longbow Research upgraded PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a report on Thursday, June 23rd. JPMorgan Chase & Co. restated a “buy” rating and set a $120.00 target price on shares of PPG Industries in a report on Friday, June 17th. Jefferies Group restated a “buy” rating and set a $129.00 target price (up from $127.00) on shares of PPG Industries in a report on Monday, July 25th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of PPG Industries in a report on Wednesday, June 15th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $121.17.

The company has a market capitalization of $28.50 billion and a price-to-earnings ratio of 19.78. The stock’s 50-day moving average is $105.84 and its 200 day moving average is $106.11.

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

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

In related news, 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 value of $4,366,908.00. Following the completion of the transaction, the insider now directly owns 69,044 shares in the company, valued at $7,362,852.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Timothy M. Knavish sold 9,300 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.08, for a total value of $967,944.00. Following the sale, the vice president now owns 11,806 shares of the company’s stock, valued at $1,228,768.48. The disclosure for this sale can be found here.

A number of large investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its stake in shares of PPG Industries by 3.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 735,687 shares of the company’s stock valued at $72,701,000 after buying an additional 23,381 shares in the last quarter. American International Group Inc. raised its stake 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 valued at $12,246,000 after buying an additional 1,998 shares in the last quarter. Victory Capital Management Inc. raised its stake 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 valued at $1,212,000 after buying an additional 3,833 shares in the last quarter. BlackRock Advisors LLC raised its stake 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 valued at $34,832,000 after buying an additional 40,595 shares in the last quarter. Finally, Employees Retirement System of Texas raised its stake 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 valued at $2,164,000 after buying an additional 3,900 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.