Handelsbanken Fonder AB Has $14.40 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Handelsbanken Fonder AB lifted its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,564 shares of the specialty chemicals company’s stock after acquiring an additional 1,552 shares during the period. Handelsbanken Fonder AB owned approximately 0.05% of PPG Industries worth $14,401,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. PUREfi Wealth LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at about $279,000. PFW Advisors LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at about $868,000. Equity Investment Corp grew its stake in shares of PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after acquiring an additional 42,380 shares in the last quarter. JGP Wealth Management LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at about $4,050,000. Finally, Charles Schwab Investment Management Inc. grew its stake in PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after buying an additional 15,161 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Mizuho reduced their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reduced their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. The Goldman Sachs Group reduced their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Barclays reduced their price objective on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $138.15.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred on 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 owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is owned by company insiders.

PPG Industries Stock Down 2.6 %

PPG stock opened at $114.88 on Friday. The firm has a 50-day moving average price of $118.29 and a 200-day moving average price of $123.22. The stock has a market capitalization of $26.65 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

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.