Forsta AP Fonden Has $12.09 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Forsta AP Fonden trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,000 shares of the specialty chemicals company’s stock after selling 1,300 shares during the quarter. Forsta AP Fonden’s holdings in PPG Industries were worth $12,085,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Qsemble Capital Management LP increased its position in PPG Industries by 290.5% in the second quarter. Qsemble Capital Management LP now owns 41,316 shares of the specialty chemicals company’s stock worth $5,201,000 after purchasing an additional 30,737 shares during the period. American Century Companies Inc. increased its position in PPG Industries by 176.4% in the second quarter. American Century Companies Inc. now owns 226,215 shares of the specialty chemicals company’s stock worth $28,478,000 after purchasing an additional 144,357 shares during the period. Vaughan David Investments LLC IL increased its position in PPG Industries by 4.9% in the second quarter. Vaughan David Investments LLC IL now owns 269,673 shares of the specialty chemicals company’s stock worth $33,949,000 after purchasing an additional 12,529 shares during the period. Headlands Technologies LLC increased its position in PPG Industries by 62.5% in the second quarter. Headlands Technologies LLC now owns 4,546 shares of the specialty chemicals company’s stock worth $572,000 after purchasing an additional 1,748 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in PPG Industries by 11.8% in the second quarter. Daiwa Securities Group Inc. now owns 28,622 shares of the specialty chemicals company’s stock worth $3,603,000 after purchasing an additional 3,018 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of research reports. Bank of America lowered their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Barclays decreased their target price on 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. UBS Group boosted their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. KeyCorp decreased their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, BMO Capital Markets decreased their target price on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Trading Down 0.0 %

NYSE:PPG opened at $125.49 on Friday. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The stock has a market capitalization of $29.28 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26. The business’s 50-day simple moving average is $125.70 and its 200-day simple moving average is $131.40.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.02. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. PPG Industries’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.25 EPS. Sell-side analysts expect that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were paid a $0.68 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.72 annualized dividend and a yield of 2.17%. PPG Industries’s payout ratio is presently 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.