Choreo LLC Purchases 2,186 Shares of PPG Industries, Inc. (NYSE:PPG)

Choreo LLC raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 45.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,958 shares of the specialty chemicals company’s stock after buying an additional 2,186 shares during the quarter. Choreo LLC’s holdings in PPG Industries were worth $829,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Tectonic Advisors LLC lifted its position in PPG Industries by 4.0% in the fourth quarter. Tectonic Advisors LLC now owns 48,884 shares of the specialty chemicals company’s stock worth $5,839,000 after purchasing an additional 1,901 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in PPG Industries by 48.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,201 shares of the specialty chemicals company’s stock worth $4,324,000 after acquiring an additional 11,744 shares during the last quarter. Weaver Capital Management LLC increased its stake in shares of PPG Industries by 3.4% in the fourth quarter. Weaver Capital Management LLC now owns 12,022 shares of the specialty chemicals company’s stock valued at $1,436,000 after buying an additional 393 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in PPG Industries by 11.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 9,828 shares of the specialty chemicals company’s stock valued at $1,174,000 after acquiring an additional 1,041 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its position in PPG Industries by 31.7% in the 4th quarter. Brown Lisle Cummings Inc. now owns 1,999 shares of the specialty chemicals company’s stock worth $239,000 after purchasing an additional 481 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Stock Performance

Shares of PPG stock opened at $114.87 on Monday. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60. The company has a market capitalization of $26.65 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.97 and a beta of 1.23. The company has a 50-day simple moving average of $120.03 and a 200 day simple moving average of $123.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.96 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.37%. PPG Industries’s dividend payout ratio is 57.51%.

Wall Street Analyst Weigh In

PPG has been the topic of a number of research reports. Royal Bank of Canada cut their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. Citigroup reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, Wells Fargo & Company lowered their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.46.

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.