Mn Services Vermogensbeheer B.V. Sells 2,300 Shares of PPG Industries, Inc. (NYSE:PPG)

Mn Services Vermogensbeheer B.V. lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,370 shares of the specialty chemicals company’s stock after selling 2,300 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in PPG Industries were worth $11,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. lifted its holdings in shares of PPG Industries by 79.3% during the 3rd quarter. QRG Capital Management Inc. now owns 11,207 shares of the specialty chemicals company’s stock worth $1,484,000 after acquiring an additional 4,956 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of PPG Industries by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 92,171 shares of the specialty chemicals company’s stock worth $12,209,000 after acquiring an additional 586 shares during the period. KG&L Capital Management LLC bought a new stake in shares of PPG Industries during the 3rd quarter worth approximately $200,000. Van ECK Associates Corp lifted its holdings in shares of PPG Industries by 15.5% during the 3rd quarter. Van ECK Associates Corp now owns 39,801 shares of the specialty chemicals company’s stock worth $5,026,000 after acquiring an additional 5,329 shares during the period. Finally, Argonautica Private Wealth Management Inc. lifted its holdings in shares of PPG Industries by 17.9% during the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 20,633 shares of the specialty chemicals company’s stock worth $2,733,000 after acquiring an additional 3,139 shares during the period. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PPG shares. Bank of America dropped their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. UBS Group increased their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Citigroup dropped their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, KeyCorp dropped their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $124.64 on Wednesday. The business has a 50-day moving average price of $127.90 and a two-hundred day moving average price of $128.12. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a market cap of $28.92 billion, a P/E ratio of 19.75, a PEG ratio of 1.90 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its 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). The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 earnings per share. As a group, analysts anticipate that PPG Industries, Inc. will post 8.19 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

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.