Choreo LLC Takes Position in PPG Industries, Inc. (NYSE:PPG)

Choreo LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,960 shares of the specialty chemicals company’s stock, valued at approximately $616,000.

Other large investors have also recently bought and sold shares of the company. Wedbush Securities Inc. increased its holdings in shares of PPG Industries by 3.5% in the second quarter. Wedbush Securities Inc. now owns 5,015 shares of the specialty chemicals company’s stock worth $631,000 after purchasing an additional 171 shares during the period. PFG Investments LLC increased its stake in PPG Industries by 9.6% in the 2nd quarter. PFG Investments LLC now owns 2,148 shares of the specialty chemicals company’s stock worth $270,000 after acquiring an additional 189 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of PPG Industries in the 2nd quarter valued at about $637,000. Morton Community Bank boosted its position in shares of PPG Industries by 8.0% during the 2nd quarter. Morton Community Bank now owns 21,283 shares of the specialty chemicals company’s stock valued at $2,679,000 after acquiring an additional 1,570 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co grew its holdings in shares of PPG Industries by 10.9% during the second quarter. Varma Mutual Pension Insurance Co now owns 94,186 shares of the specialty chemicals company’s stock worth $11,857,000 after purchasing an additional 9,286 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

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

PPG Industries (NYSE:PPG) last posted 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. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 EPS. Analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were paid a $0.68 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 45.95%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PPG. Citigroup dropped their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Bank of America dropped their price objective 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. Barclays reduced their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets dropped their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, Royal Bank of Canada reduced their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

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.