Lido Advisors LLC Boosts Stock Holdings in PPG Industries, Inc. $PPG

Lido Advisors LLC increased its stake in PPG Industries, Inc. (NYSE:PPG) by 112.7% during the 1st quarter, Holdings Channel reports. The fund owned 13,518 shares of the specialty chemicals company’s stock after purchasing an additional 7,164 shares during the quarter. Lido Advisors LLC’s holdings in PPG Industries were worth $1,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State of Wyoming acquired a new stake in PPG Industries in the 1st quarter valued at about $243,000. Cetera Investment Advisers grew its position in shares of PPG Industries by 35.6% during the first quarter. Cetera Investment Advisers now owns 47,815 shares of the specialty chemicals company’s stock worth $5,110,000 after buying an additional 12,555 shares in the last quarter. Signature Equity Partners LLC increased its stake in shares of PPG Industries by 128.5% during the first quarter. Signature Equity Partners LLC now owns 1,124 shares of the specialty chemicals company’s stock worth $120,000 after buying an additional 632 shares during the period. Impala Asset Management LLC purchased a new stake in shares of PPG Industries during the first quarter worth approximately $8,764,000. Finally, NewEdge Wealth LLC raised its holdings in PPG Industries by 12.9% in the first quarter. NewEdge Wealth LLC now owns 5,507 shares of the specialty chemicals company’s stock valued at $589,000 after acquiring an additional 629 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of PPG opened at $118.61 on Tuesday. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The stock has a 50 day moving average price of $116.08 and a 200 day moving average price of $113.44.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.05. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 EPS. Research analysts predict that PPG Industries, Inc. will post 7.93 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 2.5%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s dividend payout ratio is presently 42.23%.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price target on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and increased their price objective for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Finally, BNP Paribas Exane increased their target price on PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $126.13.

PPG Industries Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.