PPG Industries, Inc. (NYSE:PPG) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 4.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 47,964 shares of the specialty chemicals company’s stock after selling 2,000 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in PPG Industries were worth $5,245,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC increased its position in PPG Industries by 25.3% during the fourth quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company’s stock worth $54,000 after buying an additional 92 shares during the period. Conning Inc. increased its position in PPG Industries by 5.5% during the first quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company’s stock worth $206,000 after buying an additional 98 shares during the period. Beacon Capital Management LLC increased its position in PPG Industries by 37.1% during the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 101 shares during the period. Chilton Capital Management LLC increased its position in PPG Industries by 22.6% during the first quarter. Chilton Capital Management LLC now owns 576 shares of the specialty chemicals company’s stock worth $63,000 after buying an additional 106 shares during the period. Finally, Snowden Capital Advisors LLC increased its position in PPG Industries by 3.7% during the fourth quarter. Snowden Capital Advisors LLC now owns 3,147 shares of the specialty chemicals company’s stock worth $376,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 0.9%

PPG Industries stock opened at $116.06 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.99. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The company has a market cap of $26.35 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.16. The stock’s 50 day moving average price is $113.41 and its 200 day moving average price is $111.97.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the business earned $1.87 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.45%. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date is Monday, August 11th. PPG Industries’s payout ratio is presently 58.24%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Citigroup lifted their price target on PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Wells Fargo & Company lifted their target price on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Royal Bank Of Canada lifted their target price on PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Finally, UBS Group lifted their target price on PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, July 9th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.45.

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.