Skandinaviska Enskilda Banken AB publ Boosts Stock Position in PPG Industries, Inc. (NYSE:PPG)

Skandinaviska Enskilda Banken AB publ lifted its position in PPG Industries, Inc. (NYSE:PPG) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,164 shares of the specialty chemicals company’s stock after purchasing an additional 4,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in PPG Industries were worth $6,315,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Financial Connections Group Inc. acquired a new stake in PPG Industries during the 2nd quarter valued at approximately $25,000. LifeSteps Financial Inc. acquired a new stake in PPG Industries during the 1st quarter worth about $29,000. YHB Investment Advisors Inc. purchased a new position in shares of PPG Industries during the 1st quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at about $29,000. Finally, Riverview Trust Co purchased a new stake in shares of PPG Industries in the first quarter worth about $34,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PPG shares. KeyCorp dropped their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. UBS Group lifted their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Bank of America lowered their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Citigroup cut their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Barclays reduced their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Price Performance

PPG Industries stock opened at $126.50 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The stock has a market cap of $29.51 billion, a P/E ratio of 21.37, a PEG ratio of 1.72 and a beta of 1.26. The company has a 50-day moving average price of $125.71 and a 200 day moving average price of $130.73. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.48 by $0.02. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.25 EPS. Sell-side analysts anticipate that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were issued a $0.68 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio is currently 45.95%.

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.