Pioneer Investment Management Inc. increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 208.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,183,124 shares of the specialty chemicals company’s stock after buying an additional 799,098 shares during the period. Pioneer Investment Management Inc. owned approximately 0.46% of PPG Industries worth $130,096,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. V Wealth Management LLC bought a new stake in shares of PPG Industries during the second quarter worth approximately $112,000. State of Alaska Department of Revenue bought a new stake in shares of PPG Industries during the second quarter worth approximately $113,000. Baystate Wealth Management LLC increased its stake in shares of PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 40 shares during the period. Coconut Grove Bank increased its stake in shares of PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 600 shares during the period. Finally, Global X Management Co. LLC increased its stake in shares of PPG Industries by 26.7% in the first quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 249 shares during the period. Institutional investors own 71.81% of the company’s stock.

PPG Industries, Inc. (NYSE PPG) opened at 105.14 on Tuesday. PPG Industries, Inc. has a 1-year low of $89.64 and a 1-year high of $113.67. The stock has a 50 day moving average of $109.92 and a 200-day moving average of $106.01. The firm has a market capitalization of $26.97 billion, a P/E ratio of 27.66 and a beta of 1.54.

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

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.71%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 8th. PPG Industries’s dividend payout ratio (DPR) is currently 41.67%.

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A number of equities research analysts have recently commented on the company. BidaskClub downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. SunTrust Banks, Inc. downgraded PPG Industries from a “buy” rating to a “hold” rating and cut their price objective for the company from $120.00 to $113.00 in a research report on Monday, July 24th. Credit Suisse Group set a $113.00 price objective on PPG Industries and gave the company a “buy” rating in a research report on Sunday, July 23rd. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Bank of America Corporation downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price objective for the company. in a research report on Monday, July 24th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $113.93.

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.

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

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