Bessemer Group Inc. grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 90.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,107 shares of the specialty chemicals company’s stock after purchasing an additional 1,479 shares during the quarter. Bessemer Group Inc.’s holdings in PPG Industries were worth $337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors acquired a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $192,226,000. American Century Companies Inc. raised its position in shares of PPG Industries by 408.2% in the 3rd quarter. American Century Companies Inc. now owns 1,878,315 shares of the specialty chemicals company’s stock valued at $204,098,000 after acquiring an additional 1,508,715 shares during the period. Nordea Investment Management AB raised its position in shares of PPG Industries by 52.6% in the 2nd quarter. Nordea Investment Management AB now owns 2,758,249 shares of the specialty chemicals company’s stock valued at $303,297,000 after acquiring an additional 950,967 shares during the period. Pioneer Investment Management Inc. raised its position in shares of PPG Industries by 208.1% in the 2nd quarter. Pioneer Investment Management Inc. now owns 1,183,124 shares of the specialty chemicals company’s stock valued at $130,096,000 after acquiring an additional 799,098 shares during the period. Finally, Tesco Pension Investment Ltd raised its position in shares of PPG Industries by 113.9% in the 2nd quarter. Tesco Pension Investment Ltd now owns 1,164,148 shares of the specialty chemicals company’s stock valued at $128,010,000 after acquiring an additional 620,020 shares during the period. 74.67% of the stock is currently owned by institutional investors.

A number of analysts recently weighed in on PPG shares. Robert W. Baird reiterated a “buy” rating and issued a $115.00 price target on shares of PPG Industries in a research report on Friday, September 1st. Bank of America Corporation set a $120.00 price target on shares of PPG Industries and gave the company a “hold” rating in a research report on Friday, October 20th. Royal Bank Of Canada reiterated a “hold” rating and issued a $109.00 price target on shares of PPG Industries in a research report on Wednesday, September 13th. Citigroup Inc. increased their price target on shares of PPG Industries from $114.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. PPG Industries currently has an average rating of “Hold” and a consensus target price of $119.36.

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Shares of PPG Industries, Inc. (PPG) opened at $113.83 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68. PPG Industries, Inc. has a fifty-two week low of $93.80 and a fifty-two week high of $119.85. The stock has a market cap of $28,967.00, a P/E ratio of 19.33, a PEG ratio of 2.26 and a beta of 1.59.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.52. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the company earned $1.56 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. sell-side analysts predict that PPG Industries, Inc. will post 5.9 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.58%. PPG Industries’s dividend payout ratio (DPR) is presently 26.12%.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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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