PPG Industries, Inc. (NYSE:PPG) Stock Position Lowered by Weaver Capital Management LLC

Weaver Capital Management LLC trimmed its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 64.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

A number of other institutional investors also recently made changes to their positions in PPG. Park Square Financial Group LLC acquired a new position in PPG Industries in the fourth quarter worth about $26,000. CVA Family Office LLC lifted its holdings 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 worth $30,000 after buying an additional 113 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of PPG Industries in the 4th quarter worth approximately $36,000. Beacon Capital Management LLC grew its position in shares of PPG Industries by 37.1% in the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock worth $41,000 after acquiring an additional 101 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of PPG Industries in the 1st quarter valued at approximately $44,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

PPG Industries stock traded up $1.54 during mid-day trading on Tuesday, hitting $113.87. 2,019,903 shares of the company's stock traded hands, compared to its average volume of 1,854,566. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The firm has a 50 day moving average price of $108.79 and a 200 day moving average price of $112.66. The company has a market cap of $25.85 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 2.46 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last issued 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 for 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 company's revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.87 earnings per share. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries's dividend payout ratio is currently 58.24%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PPG. Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft boosted their price objective 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. UBS Group raised their target price on shares of PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, Argus cut PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $129.83.

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.