24,644 Shares in PPG Industries, Inc. (NYSE:PPG) Acquired by Avanza Fonder AB

Avanza Fonder AB bought a new position in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,644 shares of the specialty chemicals company’s stock, valued at approximately $2,944,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PPG. State Street Corp lifted its holdings in PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after purchasing an additional 491,774 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after buying an additional 485,597 shares during the last quarter. FMR LLC lifted its holdings in shares of PPG Industries by 68.3% during the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after buying an additional 354,740 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of PPG Industries by 189.6% during the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after buying an additional 279,455 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PPG Industries by 65.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock worth $62,474,000 after buying an additional 206,853 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $120.14 on Friday. The business’s fifty day moving average price is $121.37 and its two-hundred day moving average price is $124.83. PPG Industries, Inc. has a fifty-two week low of $113.00 and a fifty-two week high of $145.86. The stock has a market capitalization of $27.87 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the company earned $2.07 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. As a group, analysts predict that PPG Industries, Inc. will post 8.15 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PPG. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft cut their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Citigroup cut their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. BMO Capital Markets reiterated 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, Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.29.

Insider Buying and Selling at PPG Industries

In other 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

PPG Industries Company 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.