iA Global Asset Management Inc. Has $1.55 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

iA Global Asset Management Inc. increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,947 shares of the specialty chemicals company’s stock after buying an additional 1,810 shares during the quarter. iA Global Asset Management Inc.’s holdings in PPG Industries were worth $1,547,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after buying an additional 491,774 shares during the period. Wellington Management Group LLP raised its stake in shares of PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after purchasing an additional 485,597 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of PPG Industries by 138.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after purchasing an additional 1,858,895 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of PPG Industries by 5.7% in the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after purchasing an additional 170,339 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of PPG Industries by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company’s stock worth $316,349,000 after purchasing an additional 76,626 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Price Performance

NYSE PPG opened at $110.75 on Friday. The business’s fifty day moving average price is $116.09 and its 200-day moving average price is $121.78. The stock has a market capitalization of $25.14 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 2.19 and a beta of 1.22. 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, Inc. has a 1-year low of $109.15 and a 1-year high of $145.61.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.46%. PPG Industries’s payout ratio is presently 57.51%.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s 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 $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PPG. Wells Fargo & Company lowered their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. The Goldman Sachs Group reduced their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, PPG Industries has an average rating of “Hold” and an average target price of $138.15.

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.