Handelsbanken Fonder AB Reduces Stock Position in PPG Industries, Inc. (NYSE:PPG)

Handelsbanken Fonder AB lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,251 shares of the specialty chemicals company’s stock after selling 10,313 shares during the period. Handelsbanken Fonder AB’s holdings in PPG Industries were worth $12,056,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PPG. Brighton Jones LLC lifted its position in shares of PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after acquiring an additional 339 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of PPG Industries by 11.0% during the fourth quarter. Apollon Wealth Management LLC now owns 4,686 shares of the specialty chemicals company’s stock worth $560,000 after acquiring an additional 463 shares in the last quarter. Empowered Funds LLC lifted its position in shares of PPG Industries by 20.9% during the fourth quarter. Empowered Funds LLC now owns 24,828 shares of the specialty chemicals company’s stock worth $2,966,000 after acquiring an additional 4,287 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of PPG Industries by 9.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 13,432 shares of the specialty chemicals company’s stock worth $1,604,000 after acquiring an additional 1,107 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in shares of PPG Industries by 0.9% in the fourth quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock worth $1,407,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

PPG has been the topic of several research analyst reports. UBS Group upped their price target on shares of PPG Industries from $110.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Royal Bank of Canada upped their price target on shares of PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a report on Friday, May 2nd. Wells Fargo & Company upped their price target on shares of PPG Industries from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Finally, Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Nine 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.42.

PPG Industries Stock Down 0.9%

PPG opened at $112.03 on Friday. The stock has a market cap of $25.43 billion, a PE ratio of 23.68, a P/E/G ratio of 2.19 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The business’s fifty day simple moving average is $107.39 and its 200 day simple moving average is $113.62.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the firm earned $1.87 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.43%. PPG Industries’s dividend payout ratio (DPR) is currently 58.24%.

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.