Beutel Goodman & Co Ltd. Has $398.77 Million Position in PPG Industries, Inc. (NYSE:PPG)

Beutel Goodman & Co Ltd. lifted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,338,384 shares of the specialty chemicals company’s stock after acquiring an additional 10,116 shares during the period. PPG Industries makes up about 2.2% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 12th largest holding. Beutel Goodman & Co Ltd.’s holdings in PPG Industries were worth $398,770,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Legend Financial Advisors Inc. bought a new stake in PPG Industries during the fourth quarter worth $27,000. Albion Financial Group UT bought a new stake in shares of PPG Industries during the 4th quarter worth $38,000. Crews Bank & Trust acquired a new stake in PPG Industries in the fourth quarter valued at about $42,000. Sugar Maple Asset Management LLC bought a new position in PPG Industries in the fourth quarter valued at about $44,000. Finally, Millstone Evans Group LLC acquired a new position in PPG Industries during the fourth quarter worth about $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PPG. Wells Fargo & Company decreased their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Mizuho decreased their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. The Goldman Sachs Group dropped their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Barclays restated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Finally, StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries has an average rating of “Hold” and an average price target of $138.15.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

PPG Industries Stock Performance

PPG stock opened at $107.32 on Friday. The firm has a market cap of $24.36 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $115.37 and a 200-day moving average price of $121.23. PPG Industries, Inc. has a 1-year low of $105.64 and a 1-year high of $145.61.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business 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. This represents a $2.72 annualized dividend and a yield of 2.53%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

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.