KLP Kapitalforvaltning AS Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

KLP Kapitalforvaltning AS bought a new position in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 114,256 shares of the specialty chemicals company’s stock, valued at approximately $13,648,000.

A number of other large investors have also bought and sold shares of the company. Umpqua Bank increased its position in PPG Industries by 3.5% in the fourth quarter. Umpqua Bank now owns 9,496 shares of the specialty chemicals company’s stock worth $1,107,000 after buying an additional 317 shares during the last quarter. Sei Investments Co. grew its position in shares of PPG Industries by 130.0% in the fourth quarter. Sei Investments Co. now owns 139,985 shares of the specialty chemicals company’s stock valued at $16,724,000 after purchasing an additional 79,117 shares in the last quarter. American Century Companies Inc. grew its position in shares of PPG Industries by 171.9% in the fourth quarter. American Century Companies Inc. now owns 604,758 shares of the specialty chemicals company’s stock valued at $72,238,000 after purchasing an additional 382,366 shares in the last quarter. Mizuho Securities USA LLC grew its position in shares of PPG Industries by 45.3% in the fourth quarter. Mizuho Securities USA LLC now owns 21,988 shares of the specialty chemicals company’s stock valued at $2,626,000 after purchasing an additional 6,860 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of PPG Industries in the fourth quarter valued at $46,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Trading Down 0.5 %

Shares of PPG stock opened at $110.75 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $116.09 and a two-hundred day moving average price of $121.70. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61. The firm has a market cap of $25.14 billion, a P/E ratio of 23.42, 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company reduced their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Citigroup reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, Mizuho reduced their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Hold” and an average target price of $138.15.

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.