Rhumbline Advisers lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 427,539 shares of the specialty chemicals company’s stock after selling 1,489 shares during the period. Rhumbline Advisers’ holdings in PPG Industries were worth $47,012,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wagner Bowman Management Corp boosted its position in shares of PPG Industries by 2.8% in the first quarter. Wagner Bowman Management Corp now owns 5,580 shares of the specialty chemicals company’s stock valued at $586,000 after buying an additional 150 shares during the last quarter. Hermes Investment Management Ltd. boosted its position in shares of PPG Industries by 1.1% in the first quarter. Hermes Investment Management Ltd. now owns 67,315 shares of the specialty chemicals company’s stock valued at $7,073,000 after buying an additional 711 shares during the last quarter. Ledyard National Bank boosted its position 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 valued at $320,000 after buying an additional 300 shares during the last quarter. DnB Asset Management AS boosted its position in shares of PPG Industries by 176.8% in the first quarter. DnB Asset Management AS now owns 84,186 shares of the specialty chemicals company’s stock valued at $8,846,000 after buying an additional 53,770 shares during the last quarter. Finally, Palisade Capital Management LLC NJ boosted its position in shares of PPG Industries by 40.0% in the first quarter. Palisade Capital Management LLC NJ now owns 67,897 shares of the specialty chemicals company’s stock valued at $7,135,000 after buying an additional 19,400 shares during the last quarter. 71.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PPG Industries, Inc. (NYSE:PPG) opened at 100.73 on Friday. The stock has a market capitalization of $25.84 billion, a price-to-earnings ratio of 26.50 and a beta of 1.54. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $113.67. The firm’s 50-day moving average is $108.24 and its 200-day moving average is $106.17.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, meeting the consensus estimate of $1.83. The business 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 company’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. On average, equities research analysts anticipate 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 paid a $0.45 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, August 8th. PPG Industries’s payout ratio is currently 46.88%.

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Several research analysts have recently weighed in on the stock. BidaskClub raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Credit Suisse Group reissued an “outperform” rating and set a $114.00 price target (up previously from $109.00) on shares of PPG Industries in a research report on Monday, July 17th. They noted that the move was a valuation call. Argus raised shares of PPG Industries from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.61 to $136.00 in a research report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and set a $120.00 price target on shares of PPG Industries in a research report on Thursday, July 6th. Finally, Barclays PLC boosted their price target on shares of PPG Industries from $110.00 to $115.00 and gave the company an “equal weight” rating in a research report on Monday, April 24th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $114.50.

About PPG Industries

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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