Weaver Capital Management LLC Has $1.54 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Weaver Capital Management LLC grew its position in PPG Industries, Inc. (NYSE:PPG) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,629 shares of the specialty chemicals company’s stock after acquiring an additional 1,127 shares during the period. Weaver Capital Management LLC’s holdings in PPG Industries were worth $1,540,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Private Advisor Group LLC lifted its position in PPG Industries by 6.9% during the 3rd quarter. Private Advisor Group LLC now owns 12,123 shares of the specialty chemicals company’s stock valued at $1,606,000 after purchasing an additional 781 shares during the period. Stanley Laman Group Ltd. acquired a new stake in shares of PPG Industries during the third quarter worth $206,000. Copeland Capital Management LLC bought a new stake in shares of PPG Industries in the 3rd quarter valued at about $124,000. Allspring Global Investments Holdings LLC grew its holdings in shares of PPG Industries by 15.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock valued at $2,030,000 after buying an additional 2,047 shares during the period. Finally, Vest Financial LLC increased its stake in PPG Industries by 16.1% during the 3rd quarter. Vest Financial LLC now owns 392,155 shares of the specialty chemicals company’s stock worth $51,945,000 after purchasing an additional 54,429 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PPG. KeyCorp lowered their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Bank of America decreased their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Citigroup cut their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Mizuho decreased their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lowered their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Trading Down 1.7 %

PPG opened at $126.60 on Wednesday. The company has a market cap of $29.54 billion, a P/E ratio of 20.06, a PEG ratio of 1.93 and a beta of 1.26. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $127.56 and its 200-day moving average is $128.85. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.58%. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 earnings per share. Equities research analysts predict that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

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.