Elo Mutual Pension Insurance Co Boosts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Elo Mutual Pension Insurance Co raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 12.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,268 shares of the specialty chemicals company’s stock after purchasing an additional 2,516 shares during the period. Elo Mutual Pension Insurance Co’s holdings in PPG Industries were worth $2,779,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC grew its holdings in shares of PPG Industries by 138.9% during 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 buying an additional 1,858,895 shares in the last quarter. Cooke & Bieler LP purchased a new stake in PPG Industries in the fourth quarter valued at $107,850,000. Vanguard Group Inc. lifted its position in PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after buying an additional 756,937 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of PPG Industries in the 4th quarter worth approximately $82,071,000. Finally, State Street Corp boosted its position in shares of PPG Industries by 4.4% during the third 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. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’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 sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

PPG Industries Trading Down 1.0 %

Shares of PPG Industries stock opened at $107.32 on Friday. PPG Industries, Inc. has a 12-month low of $105.64 and a 12-month high of $145.61. The stock 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 50-day moving average of $115.37 and a two-hundred day moving average of $121.23. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its 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, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reduced their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group dropped their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has a consensus rating of “Hold” and a consensus price target 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.