DnB Asset Management AS Buys 946 Shares of PPG Industries, Inc. (NYSE:PPG)

DnB Asset Management AS grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 50,726 shares of the specialty chemicals company’s stock after buying an additional 946 shares during the quarter. DnB Asset Management AS’s holdings in PPG Industries were worth $6,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PPG. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the fourth quarter worth approximately $27,000. Albion Financial Group UT bought a new position in shares of PPG Industries during the 4th quarter valued at $38,000. Crews Bank & Trust purchased a new position in shares of PPG Industries in the 4th quarter worth $42,000. Sugar Maple Asset Management LLC bought a new stake in shares of PPG Industries in the fourth quarter worth $44,000. Finally, Millstone Evans Group LLC purchased a new stake in PPG Industries during the fourth quarter valued at $46,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Down 1.0 %

NYSE PPG opened at $107.32 on Monday. PPG Industries, Inc. has a 12 month low of $105.64 and a 12 month high of $145.61. 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 has a market cap of $24.36 billion, a PE ratio of 22.69, a P/E/G ratio of 2.19 and a beta of 1.22. The stock’s 50 day moving average is $115.37 and its 200 day moving average is $121.17.

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

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.53%. PPG Industries’s payout ratio is 57.51%.

Analysts Set New Price Targets

PPG has been the topic of several research reports. The Goldman Sachs Group dropped their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Barclays reissued an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Mizuho reduced their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $138.15.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

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.