DnB Asset Management AS Raises Position in PPG Industries, Inc. (NYSE:PPG)

DnB Asset Management AS boosted its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,726 shares of the specialty chemicals company’s stock after purchasing an additional 946 shares during the period. DnB Asset Management AS’s holdings in PPG Industries were worth $6,059,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PPG. Legend Financial Advisors Inc. purchased a new stake in PPG Industries during the 4th quarter valued at about $27,000. Albion Financial Group UT purchased a new stake in shares of PPG Industries during the fourth quarter valued at approximately $38,000. Crews Bank & Trust purchased a new stake in shares of PPG Industries during the fourth quarter valued at approximately $42,000. Sugar Maple Asset Management LLC bought a new position in shares of PPG Industries in the fourth quarter worth approximately $44,000. Finally, Millstone Evans Group LLC purchased a new position in shares of PPG Industries in the fourth quarter worth $46,000. 81.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PPG. Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Mizuho reduced their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, PPG Industries has an average rating of “Hold” and an average target price of $138.15.

PPG Industries Trading Down 1.0 %

Shares of NYSE PPG opened at $107.32 on Monday. PPG Industries, Inc. has a 1 year low of $105.64 and a 1 year high of $145.61. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a 50-day moving average of $115.37 and a 200 day moving average of $121.17. The stock has a market cap of $24.36 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last issued its quarterly 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 return on equity of 23.78% and a net margin of 6.41%. As a group, sell-side analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.53%. PPG Industries’s payout ratio is presently 57.51%.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by insiders.

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.