AMF Tjanstepension AB Has $11.38 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

AMF Tjanstepension AB lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 16.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 95,211 shares of the specialty chemicals company’s stock after selling 18,250 shares during the period. AMF Tjanstepension AB’s holdings in PPG Industries were worth $11,383,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. PUREfi Wealth LLC acquired a new position in shares of PPG Industries during the 4th quarter worth about $279,000. PFW Advisors LLC acquired a new position in shares of PPG Industries during the 4th quarter worth about $868,000. Equity Investment Corp increased its stake in PPG Industries by 7.0% during the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after acquiring an additional 42,380 shares during the period. JGP Wealth Management LLC bought a new position in PPG Industries during the fourth quarter valued at about $4,050,000. Finally, Charles Schwab Investment Management Inc. increased its stake in PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after acquiring an additional 15,161 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of several research reports. Mizuho lowered their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. UBS Group reduced their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. The Goldman Sachs Group reduced their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, PPG Industries presently has an average rating of “Hold” and an average price target of $138.15.

PPG Industries Price Performance

PPG stock opened at $115.47 on Friday. The stock has a 50-day moving average price of $116.82 and a two-hundred day moving average price of $122.76. The stock has a market cap of $26.21 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. 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 1 year low of $109.15 and a 1 year high of $145.61.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction 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. This represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Company 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.