Swiss National Bank increased its stake in PPG Industries, Inc. (NYSE:PPG) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 938,860 shares of the specialty chemicals company’s stock after buying an additional 3,500 shares during the period. Swiss National Bank owned about 0.37% of PPG Industries worth $103,237,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PPG. 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 valued at $1,533,684,000 after buying an additional 13,902,595 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of PPG Industries by 639.5% in the first quarter. Lazard Asset Management LLC now owns 4,213,143 shares of the specialty chemicals company’s stock valued at $442,716,000 after buying an additional 3,643,443 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of PPG Industries by 15,312.6% in the first quarter. Nordea Investment Management AB now owns 1,807,282 shares of the specialty chemicals company’s stock valued at $189,909,000 after buying an additional 1,795,556 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of PPG Industries by 113.5% in the first quarter. OppenheimerFunds Inc. now owns 2,531,843 shares of the specialty chemicals company’s stock valued at $266,046,000 after buying an additional 1,346,064 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of PPG Industries by 51.3% in the first quarter. Wells Fargo & Company MN now owns 2,420,642 shares of the specialty chemicals company’s stock valued at $254,360,000 after buying an additional 820,978 shares during the last quarter. 74.17% of the stock is owned by institutional investors and hedge funds.

PPG Industries, Inc. (PPG) opened at 104.32 on Friday. The company’s 50-day moving average is $105.49 and its 200-day moving average is $106.43. PPG Industries, Inc. has a 52-week low of $89.64 and a 52-week high of $113.67. The firm has a market capitalization of $26.76 billion, a PE ratio of 27.45 and a beta of 1.54.

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

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Tuesday, August 8th. PPG Industries’s dividend payout ratio (DPR) is 46.88%.

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Several analysts recently commented on PPG shares. Argus raised shares of PPG Industries from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.61 to $136.00 in a report on Wednesday, July 5th. Deutsche Bank AG boosted their price objective on shares of PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a report on Friday, July 21st. TheStreet raised shares of PPG Industries from a “c+” rating to a “b+” rating in a report on Monday, May 22nd. Credit Suisse Group reissued an “outperform” rating and issued a $114.00 price objective (up previously from $109.00) on shares of PPG Industries in a report on Monday, July 17th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $120.00 price objective on shares of PPG Industries in a report on Friday, May 26th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $115.19.

In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of PPG Industries stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the sale, the insider now directly owns 15,545 shares in the company, valued at $1,593,207.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Glenn E. Bost II sold 19,812 shares of PPG Industries stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the sale, the vice president now owns 52,748 shares of the company’s stock, valued at $5,316,998.40. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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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