iA Global Asset Management Inc. Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

iA Global Asset Management Inc. lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 16.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,947 shares of the specialty chemicals company’s stock after acquiring an additional 1,810 shares during the quarter. iA Global Asset Management Inc.’s holdings in PPG Industries were worth $1,547,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Legend Financial Advisors Inc. purchased a new position in PPG Industries during the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. grew its holdings in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Albion Financial Group UT purchased a new position in PPG Industries in the fourth quarter worth $38,000. Crews Bank & Trust purchased a new position in PPG Industries in the fourth quarter worth $42,000. Finally, Sugar Maple Asset Management LLC purchased a new position in PPG Industries in the fourth quarter worth $44,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PPG. UBS Group lowered their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Citigroup lowered their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Nine equities 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, the stock presently has an average rating of “Hold” and an average target price of $138.15.

PPG Industries Trading Down 0.5 %

NYSE PPG opened at $110.75 on Friday. The company has a market capitalization of $25.14 billion, a PE ratio of 23.42, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a fifty day moving average of $116.09 and a 200 day moving average of $121.78. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. 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 (NYSE:PPG) last issued its quarterly earnings data 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%. Research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.46%. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.

PPG Industries 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.