Choreo LLC Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Choreo LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,960 shares of the specialty chemicals company’s stock, valued at approximately $616,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPG. Gryphon Financial Partners LLC increased its holdings in PPG Industries by 1.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock worth $727,000 after purchasing an additional 81 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of PPG Industries by 7.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,278 shares of the specialty chemicals company’s stock valued at $1,687,000 after buying an additional 821 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in PPG Industries by 9.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 9,818 shares of the specialty chemicals company’s stock worth $1,468,000 after buying an additional 850 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in PPG Industries in the 4th quarter valued at $246,000. Finally, Private Wealth Management Group LLC bought a new position in PPG Industries during the 4th quarter valued at $27,000. 81.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PPG has been the subject of several analyst reports. Bank of America lowered their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. KeyCorp decreased their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada cut their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. UBS Group increased their price target on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, Barclays cut their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Trading Up 1.2 %

Shares of PPG Industries stock opened at $126.98 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The stock has a market capitalization of $29.78 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.69 and a beta of 1.26. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The stock’s 50-day simple moving average is $125.73 and its 200 day simple moving average is $131.23.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the prior year, the company posted $2.25 EPS. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. As a group, research analysts anticipate that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were given a $0.68 dividend. The ex-dividend date was Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.14%. PPG Industries’s payout ratio is 45.95%.

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.