OLD Dominion Capital Management Inc. increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,694 shares of the specialty chemicals company’s stock after buying an additional 162 shares during the period. OLD Dominion Capital Management Inc.’s holdings in PPG Industries were worth $736,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ledyard National Bank increased its stake in shares of PPG Industries by 10.9% in the first quarter. Ledyard National Bank now owns 3,044 shares of the specialty chemicals company’s stock worth $320,000 after buying an additional 300 shares during the period. LS Investment Advisors LLC increased its stake in shares of PPG Industries by 18.3% in the first quarter. LS Investment Advisors LLC now owns 31,078 shares of the specialty chemicals company’s stock worth $3,266,000 after buying an additional 4,799 shares during the period. Swiss National Bank increased its stake in shares of PPG Industries by 26.1% in the first quarter. Swiss National Bank now owns 935,360 shares of the specialty chemicals company’s stock worth $98,288,000 after buying an additional 193,800 shares during the period. BlackRock Inc. increased its stake in shares of PPG Industries by 2,006.8% in the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after buying an additional 13,902,595 shares during the period. Finally, Whittier Trust Co. increased its stake in shares of PPG Industries by 1.0% in the first quarter. Whittier Trust Co. now owns 12,481 shares of the specialty chemicals company’s stock worth $1,312,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 71.81% of the company’s stock.

PPG Industries, Inc. (NYSE PPG) opened at 101.33 on Friday. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $113.67. The company has a 50-day moving average price of $108.52 and a 200 day moving average price of $106.17. The company has a market cap of $25.99 billion, a PE ratio of 26.66 and a beta of 1.54.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.83. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 earnings per share. On average, equities research analysts forecast that PPG Industries, Inc. will post $6.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be given a $0.45 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.78%. PPG Industries’s payout ratio is presently 46.88%.

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PPG has been the topic of a number of recent research reports. Deutsche Bank AG restated a “hold” rating and set a $110.00 price objective (up from $102.00) on shares of PPG Industries in a research report on Sunday, April 23rd. Jefferies Group LLC restated a “buy” rating and set a $120.00 price objective (up from $113.00) on shares of PPG Industries in a research report on Tuesday, April 18th. Bank of America Corporation cut PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 target price on the stock. in a research note on Monday, July 24th. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $114.50.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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