PPG Industries, Inc. (NYSE:PPG) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its holdings in PPG Industries, Inc. (NYSE:PPG) by 5.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 34,165 shares of the specialty chemicals company’s stock after selling 2,036 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in PPG Industries were worth $3,671,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC increased its position in PPG Industries by 25.3% during the fourth quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company’s stock worth $54,000 after purchasing an additional 92 shares during the last quarter. Beacon Capital Management LLC grew its stake in shares of PPG Industries by 37.1% during the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock valued at $41,000 after buying an additional 101 shares during the period. Snowden Capital Advisors LLC increased its holdings in shares of PPG Industries by 3.7% during the 4th quarter. Snowden Capital Advisors LLC now owns 3,147 shares of the specialty chemicals company’s stock worth $376,000 after buying an additional 113 shares during the last quarter. CVA Family Office LLC raised its position in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 113 shares during the period. Finally, Warther Private Wealth LLC boosted its holdings in PPG Industries by 3.8% in the first quarter. Warther Private Wealth LLC now owns 3,090 shares of the specialty chemicals company’s stock valued at $338,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 1.9%

Shares of NYSE:PPG opened at $118.65 on Thursday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The firm has a market cap of $26.93 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.44 and a beta of 1.16. The company has a 50 day moving average of $110.85 and a 200-day moving average of $112.36.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.67 billion. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.87 EPS. As a group, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Monday, May 12th. PPG Industries’s payout ratio is 58.24%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PPG shares. Citigroup increased their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Fermium Researc raised shares of PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company lifted their target price on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Royal Bank Of Canada upped their price objective on PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.67.

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.