Mn Services Vermogensbeheer B.V. Lowers Holdings in PPG Industries, Inc. (NYSE:PPG)

Mn Services Vermogensbeheer B.V. reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,270 shares of the specialty chemicals company’s stock after selling 6,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in PPG Industries were worth $9,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PPG. LRI Investments LLC boosted its stake in PPG Industries by 25.3% during the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company’s stock valued at $54,000 after purchasing an additional 92 shares during the last quarter. Snowden Capital Advisors LLC boosted its position in shares of PPG Industries by 3.7% during the fourth quarter. Snowden Capital Advisors LLC now owns 3,147 shares of the specialty chemicals company’s stock valued at $376,000 after buying an additional 113 shares during the last quarter. CVA Family Office LLC increased its holdings in PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 113 shares in the last quarter. Aptus Capital Advisors LLC raised its position in PPG Industries by 5.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 2,585 shares of the specialty chemicals company’s stock worth $309,000 after buying an additional 122 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in PPG Industries by 2.5% during the 4th quarter. Global Retirement Partners LLC now owns 5,040 shares of the specialty chemicals company’s stock valued at $602,000 after acquiring an additional 124 shares during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $108.96 on Tuesday. The stock has a market cap of $24.73 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The firm has a fifty day moving average price of $108.04 and a 200-day moving average price of $113.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the business posted $1.87 EPS. PPG Industries’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries’s dividend payout ratio (DPR) is currently 58.24%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Wells Fargo & Company raised their target price on shares of PPG Industries from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Bank of America reiterated a “neutral” rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $129.83.

PPG Industries Company 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.