Intact Investment Management Inc. Invests $67,000 in PPG Industries, Inc. (NYSE:PPG)

Intact Investment Management Inc. purchased a new position in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 560 shares of the specialty chemicals company’s stock, valued at approximately $67,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PPG. GSA Capital Partners LLP boosted its position in shares of PPG Industries by 41.9% in the 3rd quarter. GSA Capital Partners LLP now owns 5,309 shares of the specialty chemicals company’s stock worth $703,000 after purchasing an additional 1,568 shares during the last quarter. Aigen Investment Management LP acquired a new stake in PPG Industries during the 3rd quarter worth $211,000. Aptus Capital Advisors LLC acquired a new stake in PPG Industries during the 3rd quarter worth $326,000. Metis Global Partners LLC raised its stake in PPG Industries by 19.7% during the 3rd quarter. Metis Global Partners LLC now owns 13,396 shares of the specialty chemicals company’s stock worth $1,774,000 after buying an additional 2,205 shares during the period. Finally, OneDigital Investment Advisors LLC raised its stake in PPG Industries by 13.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,895 shares of the specialty chemicals company’s stock worth $781,000 after buying an additional 677 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Price Performance

NYSE:PPG opened at $113.65 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock’s 50-day simple moving average is $116.36 and its 200 day simple moving average is $122.30. The company has a market cap of $25.80 billion, a P/E ratio of 24.03, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 52-week low of $109.15 and a 52-week high of $145.61.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

Analysts Set New Price Targets

Several brokerages recently commented on PPG. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Citigroup dropped their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Wells Fargo & Company dropped their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $138.15.

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.