Xact Kapitalforvaltning AB lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 46,594 shares of the specialty chemicals company’s stock after selling 2,279 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in PPG Industries were worth $5,259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PPG. Savant Capital LLC increased its position in shares of PPG Industries by 2.0% during the first quarter. Savant Capital LLC now owns 4,493 shares of the specialty chemicals company’s stock worth $507,000 after acquiring an additional 90 shares during the period. Wetherby Asset Management Inc. grew its stake in shares of PPG Industries by 2.1% during the fourth quarter. Wetherby Asset Management Inc. now owns 4,655 shares of the specialty chemicals company’s stock worth $476,000 after purchasing an additional 96 shares in the last quarter. UNIVEST FINANCIAL Corp grew its stake in shares of PPG Industries by 2.5% during the first quarter. UNIVEST FINANCIAL Corp now owns 3,925 shares of the specialty chemicals company’s stock worth $443,000 after purchasing an additional 97 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of PPG Industries by 0.8% during the first quarter. Ballentine Partners LLC now owns 13,266 shares of the specialty chemicals company’s stock worth $1,497,000 after purchasing an additional 106 shares in the last quarter. Finally, Berman Capital Advisors LLC grew its stake in shares of PPG Industries by 49.5% during the first quarter. Berman Capital Advisors LLC now owns 323 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 107 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

NYSE PPG traded up $2.01 during trading hours on Tuesday, hitting $109.79. The company had a trading volume of 34,859 shares, compared to its average volume of 1,151,931. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.40 and a quick ratio of 0.97. PPG Industries, Inc. has a 1-year low of $94.37 and a 1-year high of $121.29. The company has a market capitalization of $24.71 billion, a PE ratio of 18.52, a P/E/G ratio of 1.82 and a beta of 1.20.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.17. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. PPG Industries’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, research analysts expect that PPG Industries, Inc. will post 6.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be paid a $0.48 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.92 annualized dividend and a yield of 1.75%. PPG Industries’s dividend payout ratio is presently 32.43%.

In other PPG Industries news, VP William E. Schaupp sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total value of $267,200.00. Following the completion of the transaction, the vice president now owns 4,389 shares in the company, valued at $469,096.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Victoria F. Haynes sold 674 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $107.16, for a total transaction of $72,225.84. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

A number of brokerages recently commented on PPG. Zacks Investment Research upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a research note on Wednesday, April 24th. Buckingham Research boosted their target price on shares of PPG Industries from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Barclays boosted their target price on shares of PPG Industries from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Deutsche Bank boosted their target price on shares of PPG Industries from $120.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. They noted that the move was a valuation call. Finally, KeyCorp boosted their target price on shares of PPG Industries from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $117.89.

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PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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