24,644 Shares in PPG Industries, Inc. (NYSE:PPG) Bought by Avanza Fonder AB

Avanza Fonder AB bought a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,644 shares of the specialty chemicals company's stock, valued at approximately $2,944,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries during the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. increased its position in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock valued at $32,000 after buying an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries during the 3rd quarter worth approximately $34,000. Hara Capital LLC acquired a new stake in PPG Industries in the 3rd quarter valued at $40,000. Finally, Ashton Thomas Securities LLC purchased a new stake in PPG Industries in the 3rd quarter worth $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Trading Up 0.5 %

Shares of PPG Industries stock traded up $0.54 on Friday, reaching $120.14. The company had a trading volume of 2,686,240 shares, compared to its average volume of 1,764,164. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a market cap of $27.87 billion, a PE ratio of 19.04, a PEG ratio of 1.77 and a beta of 1.24. The firm's 50 day moving average price is $121.26 and its two-hundred day moving average price is $124.80. PPG Industries, Inc. has a 52-week low of $113.00 and a 52-week high of $145.86.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts predict that PPG Industries, Inc. will post 8.15 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm 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 2.26%. The ex-dividend date is Friday, February 21st. PPG Industries's payout ratio is 43.11%.

Analysts Set New Price Targets

PPG has been the topic of several research analyst reports. BMO Capital Markets reiterated an "outperform" rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft decreased their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, December 18th. KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Finally, Mizuho lowered their price target on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $149.29.

Insider Activity at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company's stock.

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.