Choreo LLC Has $829,000 Position in PPG Industries, Inc. (NYSE:PPG)

Choreo LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 45.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,958 shares of the specialty chemicals company’s stock after acquiring an additional 2,186 shares during the period. Choreo LLC’s holdings in PPG Industries were worth $829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPG. Insight Folios Inc raised its position in PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after purchasing an additional 81 shares during the last quarter. Alpha DNA Investment Management LLC raised its stake in shares of PPG Industries by 1.1% in the third 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. Mutual Advisors LLC lifted its stake in PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after acquiring an additional 92 shares in the last quarter. Groupama Asset Managment lifted its position in shares of PPG Industries by 1.2% during 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after buying an additional 95 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

PPG Industries stock opened at $114.87 on Monday. The firm has a 50-day moving average of $120.03 and a 200-day moving average of $123.82. The firm has a market cap of $26.65 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.97 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1-year low of $110.20 and a 1-year high of $145.60.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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%. Sell-side analysts expect that PPG Industries, Inc. will post 7.96 EPS for the current year.

PPG Industries Announces Dividend

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

Analysts Set New Price Targets

PPG has been the subject of several research reports. Royal Bank of Canada reduced their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. JPMorgan Chase & Co. lowered their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Wells Fargo & Company dropped their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Barclays cut their target price on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.46.

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.