Avanza Fonder AB Invests $2.94 Million in PPG Industries, Inc. (NYSE:PPG)

Avanza Fonder AB purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,644 shares of the specialty chemicals company’s stock, valued at approximately $2,944,000.

Other large investors have also made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries during the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries during the third quarter valued at $34,000. Hara Capital LLC acquired a new position in shares of PPG Industries during the third quarter valued at $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of PPG Industries during the third quarter valued at $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 0.5 %

Shares of PPG Industries stock opened at $120.14 on Friday. PPG Industries, Inc. has a 1 year low of $113.00 and a 1 year high of $145.86. The business has a 50-day moving average of $121.37 and a two-hundred day moving average of $124.83. The company has a market capitalization of $27.87 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the company earned $2.07 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts predict that PPG Industries, Inc. will post 8.15 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.26%. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Citigroup cut their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada cut their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.29.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is owned by corporate insiders.

About PPG Industries

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.