Handelsbanken Fonder AB Has $14.40 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Handelsbanken Fonder AB raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 120,564 shares of the specialty chemicals company’s stock after purchasing an additional 1,552 shares during the quarter. Handelsbanken Fonder AB’s holdings in PPG Industries were worth $14,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ieq Capital LLC increased its position in PPG Industries by 97.2% during the 4th quarter. Ieq Capital LLC now owns 19,738 shares of the specialty chemicals company’s stock valued at $2,358,000 after purchasing an additional 9,729 shares during the period. Global Retirement Partners LLC increased its position in PPG Industries by 2.5% during the 4th quarter. Global Retirement Partners LLC now owns 5,040 shares of the specialty chemicals company’s stock valued at $602,000 after purchasing an additional 124 shares during the period. Atlas Legacy Advisors LLC acquired a new stake in PPG Industries during the 4th quarter valued at approximately $242,000. New York State Common Retirement Fund grew its position in shares of PPG Industries by 1.1% during the 4th quarter. New York State Common Retirement Fund now owns 180,040 shares of the specialty chemicals company’s stock worth $21,506,000 after buying an additional 1,969 shares during the period. Finally, Mcdonald Partners LLC grew its position in shares of PPG Industries by 26.1% during the 4th quarter. Mcdonald Partners LLC now owns 4,015 shares of the specialty chemicals company’s stock worth $480,000 after buying an additional 832 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PPG. Barclays reduced their price objective on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Citigroup reduced their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Mizuho reduced their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group reduced their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.15.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $114.88 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock’s fifty day simple moving average is $118.29 and its two-hundred day simple moving average is $123.22. PPG Industries, Inc. has a 1-year low of $110.20 and a 1-year high of $145.60. The stock has a market cap of $26.65 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23.

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

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

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.