Meyer Handelman Co. Lowers Position in PPG Industries, Inc. (NYSE:PPG)

Meyer Handelman Co. lessened its position in PPG Industries, Inc. (NYSE:PPG) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 170,253 shares of the specialty chemicals company’s stock after selling 6,796 shares during the quarter. Meyer Handelman Co. owned approximately 0.08% of PPG Industries worth $18,617,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of PPG Industries in the 4th quarter valued at approximately $26,000. Prudent Man Investment Management Inc. purchased a new position in shares of PPG Industries in the 4th quarter valued at approximately $36,000. Crews Bank & Trust purchased a new position in shares of PPG Industries in the 4th quarter valued at approximately $42,000. Millstone Evans Group LLC purchased a new position in shares of PPG Industries in the 4th quarter valued at approximately $46,000. Finally, Human Investing LLC purchased a new position in shares of PPG Industries in the 4th quarter valued at approximately $48,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the subject of a number of recent research reports. Argus cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Wall Street Zen cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, UBS Group lifted their price objective on PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued 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 Stock Down 0.5%

PPG Industries stock opened at $110.71 on Friday. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.19 and a beta of 1.20. The stock has a fifty day simple moving average of $106.28 and a two-hundred day simple moving average of $114.28. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.87 EPS. Equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.46%. 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.