DNB Asset Management AS Has $6.82 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

DNB Asset Management AS trimmed its stake in PPG Industries, Inc. (NYSE:PPGFree Report) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,577 shares of the specialty chemicals company’s stock after selling 7,793 shares during the period. DNB Asset Management AS’s holdings in PPG Industries were worth $6,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in PPG Industries in the third quarter valued at $25,000. Harbour Investments Inc. increased its holdings in PPG Industries by 84.9% in the first quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 101 shares during the period. Quarry LP acquired a new stake in PPG Industries in the second quarter valued at $29,000. WFA of San Diego LLC acquired a new stake in PPG Industries in the second quarter valued at $30,000. Finally, Intrepid Capital Management Inc. acquired a new stake in PPG Industries in the second quarter valued at $30,000. 79.18% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Trading Down 0.8 %

PPG opened at $137.86 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The firm has a market capitalization of $32.45 billion, a PE ratio of 25.82, a P/E/G ratio of 1.40 and a beta of 1.28. The company’s 50-day moving average is $141.83 and its 200 day moving average is $137.92.

PPG Industries (NYSE:PPGGet Free Report) last posted its earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.04. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the business posted $1.22 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. As a group, research analysts predict that PPG Industries, Inc. will post 8.45 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Thursday, February 15th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.89%. PPG Industries’s dividend payout ratio is presently 48.69%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Redburn Atlantic downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. Wolfe Research initiated coverage on shares of PPG Industries in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Barclays cut shares of PPG Industries from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $163.00 to $149.00 in a research report on Tuesday, February 27th. Finally, Wells Fargo & Company upped their price target on shares of PPG Industries from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $157.13.

View Our Latest Report on PPG

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.55% of the company’s stock.

PPG Industries Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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