PPG Industries, Inc. (NYSE:PPG) Stock Holdings Trimmed by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its position in PPG Industries, Inc. (NYSE:PPG) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,936 shares of the specialty chemicals company’s stock after selling 1,522 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in PPG Industries were worth $1,449,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Covestor Ltd lifted its holdings in PPG Industries by 25.2% in the first quarter. Covestor Ltd now owns 582 shares of the specialty chemicals company’s stock worth $84,000 after purchasing an additional 117 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of PPG Industries by 62.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 15,410 shares of the specialty chemicals company’s stock worth $2,233,000 after buying an additional 5,930 shares during the period. National Bank of Canada FI grew its position in PPG Industries by 13.7% during the 1st quarter. National Bank of Canada FI now owns 119,924 shares of the specialty chemicals company’s stock worth $16,229,000 after purchasing an additional 14,473 shares in the last quarter. Pitcairn Co. lifted its stake in PPG Industries by 16.3% in the 1st quarter. Pitcairn Co. now owns 1,623 shares of the specialty chemicals company’s stock worth $235,000 after acquiring an additional 228 shares in the last quarter. Finally, Natixis purchased a new stake in shares of PPG Industries in the first quarter worth approximately $1,926,000. 81.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PPG has been the topic of a number of recent research reports. Mizuho lowered their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada decreased their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. JPMorgan Chase & Co. lowered their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.93.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

PPG Industries Stock Performance

PPG opened at $121.29 on Thursday. The business’s 50-day moving average price is $127.14 and its two-hundred day moving average price is $127.59. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a market capitalization of $28.14 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.85 and a beta of 1.26. 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 posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 earnings per share. Equities analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.24%. PPG Industries’s dividend payout ratio is 43.11%.

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.