PPG Industries, Inc. $PPG Shares Sold by Evelyn Partners Asset Management Ltd

Evelyn Partners Asset Management Ltd reduced its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 69.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,629 shares of the specialty chemicals company's stock after selling 24,195 shares during the period. Evelyn Partners Asset Management Ltd's holdings in PPG Industries were worth $1,136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PPG. Quarry LP purchased a new stake in PPG Industries in the third quarter valued at $26,000. Dorato Capital Management acquired a new position in PPG Industries in the fourth quarter valued at $26,000. Resources Management Corp CT ADV grew its holdings in shares of PPG Industries by 900.0% during the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 225 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of PPG Industries during the fourth quarter worth about $30,000. Finally, DV Equities LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Stock Up 2.3%

PPG stock opened at $118.61 on Tuesday. The stock has a market capitalization of $26.44 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. The company has a fifty day moving average of $116.08 and a 200-day moving average of $113.44. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.05. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business's revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.72 earnings per share. As a group, analysts expect that PPG Industries, Inc. will post 7.93 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, August 10th. This is a positive change from PPG Industries's previous quarterly dividend of $0.71. PPG Industries's payout ratio is presently 42.23%.

Analyst Ratings Changes

PPG has been the subject of a number of research analyst reports. Citigroup upped their target price on PPG Industries from $114.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, June 24th. Mizuho lifted their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. BMO Capital Markets decreased their price objective on PPG Industries from $140.00 to $138.00 and set an "outperform" rating for the company in a report on Monday, July 6th. Finally, The Goldman Sachs Group lowered their target price on shares of PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $126.13.

PPG Industries Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG's product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.

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