Meyer Handelman Co. Reduces Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Meyer Handelman Co. trimmed its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,253 shares of the specialty chemicals company's stock after selling 6,796 shares during the period. Meyer Handelman Co. owned approximately 0.08% of PPG Industries worth $18,617,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Park Square Financial Group LLC bought a new position in shares of PPG Industries in the fourth quarter worth approximately $26,000. Prudent Man Investment Management Inc. bought a new position in shares of PPG Industries in the fourth quarter worth approximately $36,000. Crews Bank & Trust bought a new position in shares of PPG Industries in the fourth quarter worth approximately $42,000. Millstone Evans Group LLC bought a new position in shares of PPG Industries in the fourth quarter worth approximately $46,000. Finally, Human Investing LLC bought a new position in shares of PPG Industries in the fourth quarter worth approximately $48,000. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PPG. Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. The Goldman Sachs Group reduced their price target on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Finally, Mizuho reduced their price target on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PPG Industries has a consensus rating of "Moderate Buy" and an average target price of $128.42.

PPG Industries Trading Up 1.0%

Shares of PPG Industries stock traded up $1.08 on Tuesday, hitting $111.43. The stock had a trading volume of 1,640,758 shares, compared to its average volume of 1,823,028. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The stock has a market cap of $25.29 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.19 and a beta of 1.17. The stock's 50-day simple moving average is $106.25 and its two-hundred day simple moving average is $114.06.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The firm had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter last year, the business earned $1.87 earnings per share. The business's revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Monday, May 12th. PPG Industries's payout ratio is 58.24%.

PPG Industries 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.