Forsta AP Fonden Acquires 10,400 Shares of PPG Industries, Inc. (NYSE:PPG)

Forsta AP Fonden increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 10.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 106,400 shares of the specialty chemicals company’s stock after purchasing an additional 10,400 shares during the period. Forsta AP Fonden’s holdings in PPG Industries were worth $14,094,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPG. Grimes & Company Inc. grew its holdings in PPG Industries by 13.5% during the first quarter. Grimes & Company Inc. now owns 1,551 shares of the specialty chemicals company’s stock worth $225,000 after purchasing an additional 184 shares during the period. Vicus Capital acquired a new stake in PPG Industries during the first quarter worth approximately $332,000. Foguth Wealth Management LLC. acquired a new stake in PPG Industries during the first quarter worth approximately $211,000. LVW Advisors LLC acquired a new stake in PPG Industries during the first quarter worth approximately $233,000. Finally, BKM Wealth Management LLC lifted its position in PPG Industries by 21.6% during the first quarter. BKM Wealth Management LLC now owns 4,349 shares of the specialty chemicals company’s stock worth $630,000 after acquiring an additional 773 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PPG. Barclays cut their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. KeyCorp dropped their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Bank of America cut their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Mizuho reduced their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, UBS Group increased their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Stock Down 0.6 %

Shares of NYSE:PPG opened at $126.45 on Friday. The company has a fifty day moving average of $127.87 and a 200-day moving average of $128.63. The company has a market capitalization of $29.65 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.07 earnings per share. On average, equities analysts predict that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.15%. PPG Industries’s payout ratio is 45.95%.

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.