Ontario Teachers Pension Plan Board Has $1.45 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Ontario Teachers Pension Plan Board reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 12.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,936 shares of the specialty chemicals company’s stock after selling 1,522 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in PPG Industries were worth $1,449,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PPG. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the 2nd quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries during the 3rd quarter worth $34,000. Rothschild Investment LLC bought a new stake in shares of PPG Industries during the 2nd quarter worth $37,000. Hara Capital LLC bought a new position in PPG Industries in the third quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in PPG Industries during the third quarter worth about $46,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.2 %

Shares of NYSE:PPG opened at $121.29 on Thursday. The company has a market capitalization of $28.14 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. 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 $118.07 and a 1 year high of $151.16. The business has a fifty day moving average price of $127.14 and a two-hundred day moving average price of $127.59.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.07 EPS. Analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Mizuho dropped their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

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.