Meyer Handelman Co. Has $24.14 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Meyer Handelman Co. lowered its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 0.6% during the third quarter, HoldingsChannel reports. The firm owned 182,269 shares of the specialty chemicals company’s stock after selling 1,025 shares during the quarter. Meyer Handelman Co.’s holdings in PPG Industries were worth $24,143,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vest Financial LLC increased its holdings in shares of PPG Industries by 28.9% during the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after acquiring an additional 75,620 shares during the last quarter. BDF Gestion bought a new stake in PPG Industries during the 2nd quarter worth approximately $3,452,000. State Board of Administration of Florida Retirement System raised its position in PPG Industries by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock worth $36,620,000 after purchasing an additional 22,079 shares during the last quarter. Vanguard Group Inc. raised its position in shares of PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after acquiring an additional 4,222,402 shares during the last quarter. Finally, Perpetual Ltd lifted its position in shares of PPG Industries by 416.5% in the 1st quarter. Perpetual Ltd now owns 7,365 shares of the specialty chemicals company’s stock worth $1,067,000 after purchasing an additional 5,939 shares during the period. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.7 %

Shares of PPG Industries stock opened at $128.25 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The stock has a market capitalization of $29.92 billion, a P/E ratio of 21.02, a P/E/G ratio of 1.72 and a beta of 1.26. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The stock’s 50-day simple moving average is $126.09 and its 200 day simple moving average is $129.66.

PPG Industries (NYSE:PPG) last announced 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. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the prior year, the company posted $2.25 EPS. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. As a group, research analysts anticipate that PPG Industries, Inc. will post 8.24 EPS for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. PPG Industries’s payout ratio is presently 44.59%.

Analysts Set New Price Targets

PPG has been the topic of a number of research reports. Barclays dropped their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Citigroup reduced 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 note on Monday, July 22nd. Bank of America dropped their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. KeyCorp reduced their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Royal Bank of Canada dropped their target price on shares of 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.