Choreo LLC Sells 2,711 Shares of PPG Industries, Inc. (NYSE:PPG)

Choreo LLC lowered its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 39.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,247 shares of the specialty chemicals company's stock after selling 2,711 shares during the quarter. Choreo LLC's holdings in PPG Industries were worth $464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new stake in PPG Industries during the 4th quarter valued at $26,000. CVA Family Office LLC boosted its position in PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after acquiring an additional 113 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in PPG Industries during the 4th quarter valued at $36,000. Beacon Capital Management LLC boosted its position in PPG Industries by 37.1% during the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock valued at $41,000 after acquiring an additional 101 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its position in PPG Industries by 88.0% during the 1st quarter. Cromwell Holdings LLC now owns 393 shares of the specialty chemicals company's stock valued at $43,000 after acquiring an additional 184 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Down 1.7%

PPG Industries stock opened at $113.97 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The business's 50-day simple moving average is $113.41 and its two-hundred day simple moving average is $111.98. The company has a market cap of $25.87 billion, a PE ratio of 24.40, a PEG ratio of 2.43 and a beta of 1.16. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.10. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The company's revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.87 EPS. Equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is currently 60.81%.

Analyst Upgrades and Downgrades

PPG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Bank of America restated a "neutral" rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Mizuho increased their price target on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. lowered their price target on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, UBS Group raised their price target on PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $129.45.

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.

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