Andra AP fonden Has $6.85 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Andra AP fonden lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,363 shares of the specialty chemicals company's stock after selling 21,800 shares during the quarter. Andra AP fonden's holdings in PPG Industries were worth $6,852,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in PPG Industries by 14.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,445 shares of the specialty chemicals company's stock worth $324,000 after buying an additional 306 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of PPG Industries by 15.5% during the third quarter. Van ECK Associates Corp now owns 39,801 shares of the specialty chemicals company's stock worth $5,026,000 after acquiring an additional 5,329 shares in the last quarter. Foster & Motley Inc. purchased a new position in PPG Industries in the third quarter valued at about $210,000. Summit Global Investments purchased a new position in PPG Industries in the third quarter valued at about $299,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries during the 3rd quarter worth about $34,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

NYSE:PPG traded down $2.43 during trading hours on Wednesday, hitting $111.00. 1,824,277 shares of the company traded hands, compared to its average volume of 1,627,820. 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 twelve month low of $109.15 and a twelve month high of $145.61. The firm has a 50-day moving average of $116.62 and a 200 day moving average of $122.58. The stock has a market capitalization of $25.19 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 2.19 and a beta of 1.22.

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PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, February 21st. PPG Industries's payout ratio is 57.51%.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank of Canada lowered their price target on 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. JPMorgan Chase & Co. downgraded shares of PPG Industries from an "overweight" rating to a "neutral" rating and cut their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Mizuho decreased their price objective 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. Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Finally, UBS Group lowered their price objective on PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, PPG Industries currently has an average rating of "Hold" and an average target price of $138.15.

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.