Mn Services Vermogensbeheer B.V. Sells 6,600 Shares of PPG Industries, Inc. (NYSE:PPG)

Mn Services Vermogensbeheer B.V. decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,270 shares of the specialty chemicals company’s stock after selling 6,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in PPG Industries were worth $9,324,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in PPG Industries during the 4th quarter valued at approximately $26,000. CVA Family Office LLC grew its holdings in shares of PPG Industries by 70.6% in the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 113 shares in the last quarter. Prudent Man Investment Management Inc. bought a new stake in PPG Industries in the fourth quarter worth $36,000. Millstone Evans Group LLC purchased a new stake in PPG Industries during the fourth quarter valued at $46,000. Finally, Human Investing LLC bought a new position in PPG Industries during the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PPG. Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Royal Bank of Canada upped their price objective on PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Wells Fargo & Company increased their price target on PPG Industries from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Finally, Citigroup lifted their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.83.

PPG Industries Stock Performance

PPG stock opened at $108.96 on Tuesday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 2.19 and a beta of 1.17. The business’s fifty day simple moving average is $108.04 and its two-hundred day simple moving average is $113.26. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the firm posted $1.87 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. Analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries’s dividend payout ratio 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.