KLP Kapitalforvaltning AS Takes $13.65 Million Position in PPG Industries, Inc. (NYSE:PPG)

KLP Kapitalforvaltning AS bought a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 114,256 shares of the specialty chemicals company's stock, valued at approximately $13,648,000.

Several other large investors have also added to or reduced their stakes in the company. First Eagle Investment Management LLC lifted its stake in shares of PPG Industries by 138.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company's stock valued at $381,876,000 after buying an additional 1,858,895 shares in the last quarter. Cooke & Bieler LP bought a new stake in PPG Industries during the fourth quarter valued at about $107,850,000. Raymond James Financial Inc. purchased a new position in shares of PPG Industries in the fourth quarter valued at about $82,071,000. State Street Corp lifted its position in shares of PPG Industries by 4.4% in the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock valued at $1,552,100,000 after acquiring an additional 491,774 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of PPG Industries by 5.7% in 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 acquiring an additional 485,597 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Trading Down 1.3 %

PPG Industries stock traded down $1.43 during midday trading on Tuesday, reaching $111.55. The stock had a trading volume of 1,818,942 shares, compared to its average volume of 1,620,423. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market cap of $25.32 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 52-week low of $109.15 and a 52-week high of $145.61. The company has a fifty day moving average of $116.06 and a 200 day moving average of $121.61.

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PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) 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%. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries's dividend payout ratio is presently 57.51%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PPG shares. 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 note on Thursday, December 19th. Mizuho lowered their target price on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada cut their target price on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 4th. Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Finally, Barclays reaffirmed an "equal weight" rating on shares of PPG Industries 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $138.15.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm's 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 transaction, the chief executive officer now directly 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 document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

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.