IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 9.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,471 shares of the specialty chemicals company’s stock after acquiring an additional 5,300 shares during the quarter. PPG Industries accounts for about 0.9% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s portfolio, making the stock its 23rd largest position. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in PPG Industries were worth $8,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vontobel Holding Ltd. grew its stake in shares of PPG Industries by 7.1% during the third quarter. Vontobel Holding Ltd. now owns 3,426 shares of the specialty chemicals company’s stock worth $454,000 after purchasing an additional 227 shares in the last quarter. Grove Bank & Trust grew its stake in shares of PPG Industries by 5.6% during the third quarter. Grove Bank & Trust now owns 5,246 shares of the specialty chemicals company’s stock worth $695,000 after purchasing an additional 277 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of PPG Industries by 14.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,596 shares of the specialty chemicals company’s stock worth $1,006,000 after purchasing an additional 979 shares in the last quarter. Orca Investment Management LLC grew its stake in shares of PPG Industries by 13.9% during the third quarter. Orca Investment Management LLC now owns 2,720 shares of the specialty chemicals company’s stock worth $360,000 after purchasing an additional 331 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of PPG Industries by 33.8% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 389,834 shares of the specialty chemicals company’s stock worth $51,637,000 after purchasing an additional 98,474 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. BMO Capital Markets lowered their target price on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Bank of America lowered their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Barclays decreased their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Citigroup decreased their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, UBS Group upped their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $130.36 on Thursday. The company has a 50-day simple moving average of $126.73 and a 200-day simple moving average of $129.26. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The stock has a market capitalization of $30.57 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.02. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.25 earnings per share. On average, analysts predict that PPG Industries, Inc. will post 8.24 EPS for the current year.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.