PPG Industries, Inc. (NYSE:PPG) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. reduced its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 177,049 shares of the specialty chemicals company's stock after selling 5,220 shares during the quarter. Meyer Handelman Co. owned 0.08% of PPG Industries worth $21,149,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PPG. Insight Folios Inc grew its position in shares of PPG Industries by 3.8% during the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company's stock worth $294,000 after acquiring an additional 81 shares during the last quarter. Bradley Foster & Sargent Inc. CT boosted its stake in PPG Industries by 1.7% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company's stock worth $669,000 after purchasing an additional 90 shares during the period. Alpha DNA Investment Management LLC grew its position in PPG Industries by 1.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company's stock worth $1,105,000 after purchasing an additional 92 shares during the last quarter. Groupama Asset Managment increased its stake in PPG Industries by 1.2% in the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock valued at $1,027,000 after purchasing an additional 93 shares during the period. Finally, Kingsview Wealth Management LLC raised its holdings in shares of PPG Industries by 1.3% in the third quarter. Kingsview Wealth Management LLC now owns 8,185 shares of the specialty chemicals company's stock valued at $1,084,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Price Performance

Shares of NYSE:PPG traded up $1.10 during trading on Wednesday, hitting $117.63. 1,401,794 shares of the stock were exchanged, compared to its average volume of 1,966,319. The company has a market cap of $27.29 billion, a PE ratio of 18.64, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average price of $121.66 and a two-hundred day moving average price of $124.91. PPG Industries, Inc. has a 12-month low of $113.00 and a 12-month high of $145.86.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts' consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to analysts' expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 earnings per share. On average, analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries's dividend payout ratio (DPR) is presently 43.11%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PPG. StockNews.com lowered PPG Industries from a "strong-buy" rating to a "buy" rating in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a research note on Friday, October 18th. Citigroup cut their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, December 18th. BMO Capital Markets reaffirmed an "outperform" rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, KeyCorp cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $149.29.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.55% of the company's stock.

About PPG Industries

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.