Tredje AP fonden Has $2.44 Million Position in PPG Industries, Inc. (PPG)

Tredje AP fonden lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,222 shares of the specialty chemicals company’s stock after selling 1,130 shares during the period. Tredje AP fonden’s holdings in PPG Industries were worth $2,444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Investment Partners Ltd. OH ADV increased its position in shares of PPG Industries by 0.3% during the second quarter. Investment Partners Ltd. OH ADV now owns 2,485 shares of the specialty chemicals company’s stock valued at $273,000 after acquiring an additional 7 shares in the last quarter. Sigma Planning Corp increased its position in shares of PPG Industries by 0.3% during the second quarter. Sigma Planning Corp now owns 4,069 shares of the specialty chemicals company’s stock valued at $447,000 after acquiring an additional 12 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC increased its position in shares of PPG Industries by 0.4% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock valued at $348,000 after acquiring an additional 12 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in shares of PPG Industries by 0.3% during the first quarter. YorkBridge Wealth Partners LLC now owns 5,820 shares of the specialty chemicals company’s stock valued at $637,000 after acquiring an additional 15 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC increased its position in shares of PPG Industries by 1.6% during the second quarter. Balasa Dinverno & Foltz LLC now owns 2,027 shares of the specialty chemicals company’s stock valued at $223,000 after acquiring an additional 31 shares in the last quarter. 74.17% of the stock is owned by institutional investors.

PPG Industries, Inc. (PPG) opened at 103.59 on Friday. The stock’s 50 day moving average is $104.17 and its 200 day moving average is $106.51. The stock has a market cap of $26.57 billion, a PE ratio of 27.25 and a beta of 1.55. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $113.67.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.83. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.73 earnings per share. Analysts predict that PPG Industries, Inc. will post $6.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s dividend payout ratio is presently 46.88%.

PPG has been the subject of several analyst reports. TheStreet raised shares of PPG Industries from a “c+” rating to a “b+” rating in a research report on Monday, May 22nd. Jefferies Group LLC restated a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a report on Thursday, July 6th. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $110.61 to $136.00 in a report on Wednesday, July 5th. BidaskClub upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Credit Suisse Group set a $113.00 target price on shares of PPG Industries and gave the stock a “buy” rating in a report on Sunday, July 23rd. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. PPG Industries has a consensus rating of “Hold” and an average price target of $115.19.

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In other news, insider Viktoras R. Sekmakas sold 18,616 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $102.49, for a total value of $1,907,953.84. Following the sale, the insider now owns 15,545 shares in the company, valued at $1,593,207.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Glenn E. Bost II sold 19,812 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the completion of the sale, the vice president now owns 52,748 shares in the company, valued at approximately $5,316,998.40. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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

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