Avanza Fonder AB Decreases Holdings in PPG Industries, Inc. (NYSE:PPG)

Avanza Fonder AB cut its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 21.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,407 shares of the specialty chemicals company's stock after selling 5,237 shares during the quarter. Avanza Fonder AB's holdings in PPG Industries were worth $2,137,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PPG. Brighton Jones LLC raised its position in PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock valued at $487,000 after purchasing an additional 339 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of PPG Industries by 11.0% in the fourth quarter. Apollon Wealth Management LLC now owns 4,686 shares of the specialty chemicals company's stock valued at $560,000 after buying an additional 463 shares during the period. Kingsview Wealth Management LLC raised its holdings in PPG Industries by 1.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock valued at $990,000 after buying an additional 103 shares during the last quarter. Empowered Funds LLC boosted its position in PPG Industries by 20.9% during the 4th quarter. Empowered Funds LLC now owns 24,828 shares of the specialty chemicals company's stock worth $2,966,000 after buying an additional 4,287 shares during the period. Finally, Kestra Private Wealth Services LLC grew its holdings in PPG Industries by 9.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 13,432 shares of the specialty chemicals company's stock worth $1,604,000 after acquiring an additional 1,107 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on PPG shares. Deutsche Bank Aktiengesellschaft increased their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Wells Fargo & Company upped their price target on PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Argus lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $128.42.

PPG Industries Stock Down 0.9%

Shares of NYSE PPG traded down $0.98 during trading on Thursday, hitting $112.03. 1,283,987 shares of the company traded hands, compared to its average volume of 1,824,799. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The business's fifty day moving average is $107.09 and its 200 day moving average is $113.72. The firm has a market capitalization of $25.43 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 2.19 and a beta of 1.17. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the prior year, the business earned $1.87 EPS. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.43%. PPG Industries's dividend payout ratio (DPR) is presently 58.24%.

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.