Skandinaviska Enskilda Banken AB publ Sells 200 Shares of PPG Industries, Inc. (NYSE:PPG)

Skandinaviska Enskilda Banken AB publ reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 49,964 shares of the specialty chemicals company’s stock after selling 200 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in PPG Industries were worth $5,950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after purchasing an additional 491,774 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after purchasing an additional 485,597 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after purchasing an additional 170,339 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of PPG Industries by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company’s stock worth $316,349,000 after purchasing an additional 76,626 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PPG Industries by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock worth $248,650,000 after purchasing an additional 36,047 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Royal Bank of Canada reduced their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. The Goldman Sachs Group cut their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft cut their price objective 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. JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $138.15.

PPG Industries Trading Up 2.1 %

Shares of PPG opened at $113.65 on Friday. The business has a 50-day moving average of $116.36 and a 200 day moving average of $122.30. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61. The firm has a market cap of $25.80 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. 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 (NYSE:PPG) last announced 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 return on equity of 23.78% and a net margin of 6.41%. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.39%. PPG Industries’s dividend payout ratio is currently 57.51%.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries 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 sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

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.