CIBC Asset Management Inc lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,540 shares of the specialty chemicals company’s stock after buying an additional 2,571 shares during the quarter. CIBC Asset Management Inc’s holdings in PPG Industries were worth $3,491,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Vontobel Holding Ltd. raised its position in shares of PPG Industries by 51.9% during the 1st quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock valued at $797,000 after acquiring an additional 2,048 shares during the last quarter. Sei Investments Co. boosted its holdings in PPG Industries by 14.7% during the first quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock worth $3,099,000 after buying an additional 3,025 shares during the last quarter. Prudential PLC acquired a new position in shares of PPG Industries during the 1st quarter worth about $619,000. Vanguard Group Inc. increased its stake in shares of PPG Industries by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after acquiring an additional 252,358 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in shares of PPG Industries by 7.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock valued at $2,553,000 after acquiring an additional 1,283 shares during the period. 80.04% of the stock is owned by institutional investors.
PPG Industries Stock Performance
Shares of NYSE PPG opened at $130.97 on Wednesday. PPG Industries, Inc. has a 12 month low of $107.06 and a 12 month high of $159.16. The company has a market capitalization of $30.78 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.70 and a beta of 1.18. The stock has a 50 day moving average of $129.61 and a 200-day moving average of $124.03. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05.
PPG Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 17th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, February 16th. PPG Industries’s dividend payout ratio is currently 57.27%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on PPG shares. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Monday. BNP Paribas lowered PPG Industries from an “outperform” rating to a “neutral” rating and set a $130.00 target price on the stock. in a report on Monday. Credit Suisse Group increased their price target on PPG Industries from $104.00 to $118.00 and gave the stock an “underperform” rating in a report on Friday, January 20th. The Goldman Sachs Group started coverage on PPG Industries in a research report on Thursday, October 13th. They issued a “buy” rating and a $145.00 price objective for the company. Finally, Mizuho dropped their target price on shares of PPG Industries from $146.00 to $142.00 and set a “buy” rating on the stock in a report on Thursday, January 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $135.55.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
- Get a free copy of the StockNews.com research report on PPG Industries (PPG)
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