BI Asset Management Fondsmaeglerselskab A S Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 5.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,301 shares of the specialty chemicals company’s stock after buying an additional 992 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PPG Industries were worth $2,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in PPG Industries by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,831,301 shares of the specialty chemicals company’s stock valued at $338,199,000 after acquiring an additional 324,688 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of PPG Industries by 6.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 109,888 shares of the specialty chemicals company’s stock worth $13,126,000 after purchasing an additional 6,706 shares during the period. First Trust Advisors LP boosted its holdings in shares of PPG Industries by 6.4% in the fourth quarter. First Trust Advisors LP now owns 1,969,686 shares of the specialty chemicals company’s stock worth $235,279,000 after buying an additional 119,168 shares during the last quarter. Forum Financial Management LP grew its position in PPG Industries by 35.9% during the fourth quarter. Forum Financial Management LP now owns 2,237 shares of the specialty chemicals company’s stock valued at $267,000 after buying an additional 591 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in PPG Industries by 8.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 287,540 shares of the specialty chemicals company’s stock valued at $34,319,000 after buying an additional 21,618 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

NYSE:PPG opened at $99.45 on Tuesday. The company has a market capitalization of $22.57 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.19 and a beta of 1.16. The business’s 50-day moving average is $109.07 and its 200 day moving average is $117.68. 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, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a $0.68 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.74%. PPG Industries’s dividend payout ratio is currently 57.51%.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PPG shares. Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Barclays restated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Royal Bank of Canada reduced their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Bank of America reiterated a “neutral” rating and issued a $126.00 price target (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their target price on shares of PPG Industries from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $132.31.

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.