Forsta AP Fonden Boosts Stock Position in PPG Industries, Inc. (NYSE:PPG)

Forsta AP Fonden grew its stake in PPG Industries, Inc. (NYSE:PPG) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,700 shares of the specialty chemicals company’s stock after purchasing an additional 3,300 shares during the period. Forsta AP Fonden’s holdings in PPG Industries were worth $13,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Asset Dedication LLC grew its position in shares of PPG Industries by 1,542.3% in the fourth quarter. Asset Dedication LLC now owns 2,759 shares of the specialty chemicals company’s stock valued at $330,000 after purchasing an additional 2,591 shares in the last quarter. Lebenthal Global Advisors LLC purchased a new position in PPG Industries in the fourth quarter worth approximately $409,000. Union Bancaire Privee UBP SA purchased a new position in PPG Industries in the fourth quarter worth approximately $2,543,000. Blue Trust Inc. grew its position in PPG Industries by 12.9% in the fourth quarter. Blue Trust Inc. now owns 4,102 shares of the specialty chemicals company’s stock worth $543,000 after acquiring an additional 469 shares during the period. Finally, Monte Financial Group LLC grew its position in PPG Industries by 1.6% in the fourth quarter. Monte Financial Group LLC now owns 27,688 shares of the specialty chemicals company’s stock worth $3,307,000 after acquiring an additional 432 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Down 0.4 %

Shares of NYSE PPG opened at $122.46 on Thursday. The stock has a market cap of $28.41 billion, a P/E ratio of 19.41, a PEG ratio of 1.93 and a beta of 1.24. 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 12-month low of $113.00 and a 12-month high of $145.60. The business’s fifty day simple moving average is $121.23 and its 200-day simple moving average is $124.59.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is currently 43.11%.

Analyst Ratings Changes

Several brokerages recently weighed in on PPG. Citigroup lowered their price objective on 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 lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $149.23.

PPG Industries 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.