Weaver Capital Management LLC Sells 7,753 Shares of PPG Industries, Inc. (NYSE:PPG)

Weaver Capital Management LLC lessened its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 64.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,269 shares of the specialty chemicals company's stock after selling 7,753 shares during the period. Weaver Capital Management LLC's holdings in PPG Industries were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in PPG Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after buying an additional 756,937 shares in the last quarter. Wellington Management Group LLP grew its stake in PPG Industries by 17.7% in the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock worth $1,262,234,000 after buying an additional 1,590,041 shares in the last quarter. Geode Capital Management LLC grew its stake in PPG Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock worth $660,752,000 after buying an additional 93,455 shares in the last quarter. Invesco Ltd. grew its stake in PPG Industries by 6.1% in the 4th quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock worth $564,596,000 after buying an additional 271,699 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in PPG Industries by 482.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock worth $518,132,000 after buying an additional 3,592,655 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Wells Fargo & Company boosted their price target on shares of PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Citigroup boosted their price target on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Finally, Seaport Res Ptn cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $129.83.

PPG Industries Trading Up 0.4%

Shares of PPG opened at $108.71 on Friday. The stock has a market capitalization of $24.68 billion, a P/E ratio of 23.28, a PEG ratio of 2.45 and a beta of 1.17. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $108.57 and a two-hundred day simple moving average of $112.94. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24.

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

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.50%. PPG Industries's payout ratio is currently 58.24%.

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.

Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.