PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co lifted its stake in PPG Industries, Inc. (NYSE:PPG) by 39.0% in the fourth quarter, HoldingsChannel reports. The fund owned 28,500 shares of the specialty chemicals company’s stock after purchasing an additional 8,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in PPG Industries were worth $3,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PPG. Public Sector Pension Investment Board lifted its position in PPG Industries by 11.1% in the third quarter. Public Sector Pension Investment Board now owns 10,038 shares of the specialty chemicals company’s stock worth $1,330,000 after purchasing an additional 1,000 shares during the period. HighTower Advisors LLC raised its stake in shares of PPG Industries by 13.5% in the 3rd quarter. HighTower Advisors LLC now owns 74,837 shares of the specialty chemicals company’s stock worth $9,914,000 after buying an additional 8,905 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of PPG Industries by 10.0% in the third quarter. Janus Henderson Group PLC now owns 36,422 shares of the specialty chemicals company’s stock valued at $4,824,000 after buying an additional 3,300 shares during the period. Integrated Wealth Concepts LLC boosted its stake in PPG Industries by 146.1% during the third quarter. Integrated Wealth Concepts LLC now owns 7,560 shares of the specialty chemicals company’s stock valued at $1,001,000 after buying an additional 4,488 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in PPG Industries by 35.7% during the third quarter. IHT Wealth Management LLC now owns 4,592 shares of the specialty chemicals company’s stock worth $604,000 after acquiring an additional 1,208 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Insider Activity at PPG Industries

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 sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PPG shares. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Barclays restated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Citigroup dropped their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company reduced their price objective on PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, UBS Group cut their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has an average rating of “Hold” and an average price target of $137.77.

PPG Industries Trading Down 4.8 %

NYSE:PPG opened at $98.98 on Friday. The stock’s 50-day moving average is $113.74 and its two-hundred day moving average is $120.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market cap of $22.47 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a fifty-two week low of $97.49 and a fifty-two week high of $142.30.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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%. As a group, equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.75%. PPG Industries’s dividend payout ratio is 57.51%.

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.