Relyea Zuckerberg Hanson LLC Sells 305 Shares of PPG Industries, Inc. (NYSE:PPG)

Relyea Zuckerberg Hanson LLC lowered its position in PPG Industries, Inc. (NYSE:PPG) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,495 shares of the specialty chemicals company’s stock after selling 305 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in PPG Industries were worth $492,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth approximately $26,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PPG Industries in the fourth quarter worth approximately $36,000. Millstone Evans Group LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth approximately $46,000. Human Investing LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth approximately $48,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth approximately $48,000. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Bank of America reaffirmed a “neutral” rating and set a $126.00 price target (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. UBS Group increased their price target on PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Citigroup decreased their price target on PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada increased their price target on PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus price target of $128.42.

PPG Industries Trading Down 0.9%

NYSE PPG opened at $112.03 on Friday. The stock’s 50-day simple moving average is $107.39 and its two-hundred day simple moving average is $113.62. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $25.43 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 2.19 and a beta of 1.17.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.87 earnings per share. Research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a dividend of $0.68 per share. The ex-dividend date was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.43%. PPG Industries’s dividend payout ratio is presently 58.24%.

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.