PPG Industries, Inc. (NYSE:PPG) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 2,588,530 shares, a decline of 36.4% from the July 14th total of 4,071,739 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 1,855,549 shares, the days-to-cover ratio is presently 1.4 days.

PPG has been the topic of a number of recent research reports. TheStreet upgraded PPG Industries from a “c+” rating to a “b+” rating in a research note on Monday, May 22nd. Credit Suisse Group set a $113.00 target price on PPG Industries and gave the company a “buy” rating in a research note on Sunday, July 23rd. BidaskClub upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a research note on Thursday, July 6th. Finally, Argus upgraded PPG Industries from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.61 to $136.00 in a research note on Wednesday, July 5th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $114.50.

PPG Industries (PPG) opened at 103.74 on Thursday. The company’s 50 day moving average price is $107.59 and its 200 day moving average price is $106.23. The firm has a market cap of $26.61 billion, a PE ratio of 27.29 and a beta of 1.54. PPG Industries has a 52-week low of $89.64 and a 52-week high of $113.67.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting analysts’ consensus estimates of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the company posted $1.73 earnings per share. PPG Industries’s quarterly revenue was up .6% on a year-over-year basis. Analysts predict that PPG Industries will post $6.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.74%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s dividend payout ratio (DPR) is presently 46.88%.

In other PPG Industries news, VP Glenn E. Bost II sold 19,812 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $100.80, for a total value of $1,997,049.60. Following the transaction, the vice president now owns 52,748 shares in the company, valued at $5,316,998.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Colony Group LLC boosted its position in PPG Industries by 100.4% in the second quarter. Colony Group LLC now owns 5,094 shares of the specialty chemicals company’s stock worth $560,000 after buying an additional 2,552 shares during the last quarter. Verition Fund Management LLC boosted its position in PPG Industries by 1,005.2% in the second quarter. Verition Fund Management LLC now owns 11,052 shares of the specialty chemicals company’s stock worth $1,215,000 after buying an additional 10,052 shares during the last quarter. Intellectus Partners LLC boosted its position in PPG Industries by 11.1% in the second quarter. Intellectus Partners LLC now owns 4,464 shares of the specialty chemicals company’s stock worth $491,000 after buying an additional 446 shares during the last quarter. Nomura Holdings Inc. boosted its position in PPG Industries by 43.5% in the second quarter. Nomura Holdings Inc. now owns 37,044 shares of the specialty chemicals company’s stock worth $4,073,000 after buying an additional 11,231 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in PPG Industries by 47.0% in the second quarter. Bank of Nova Scotia now owns 86,616 shares of the specialty chemicals company’s stock worth $9,524,000 after buying an additional 27,680 shares during the last quarter. Institutional investors and hedge funds own 71.54% of the company’s stock.

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PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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