Alberta Investment Management Corp Sells 1,000 Shares of PPG Industries, Inc. (NYSE:PPG)

Alberta Investment Management Corp lowered its position in PPG Industries, Inc. (NYSE:PPGFree Report) by 16.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,100 shares of the specialty chemicals company’s stock after selling 1,000 shares during the quarter. Alberta Investment Management Corp’s holdings in PPG Industries were worth $763,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Wedmont Private Capital lifted its stake in PPG Industries by 2.9% during the fourth quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock worth $363,000 after purchasing an additional 70 shares during the period. Barrett & Company Inc. raised its stake in PPG Industries by 10.6% during the fourth quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock worth $114,000 after acquiring an additional 73 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of PPG Industries by 2.0% during the third quarter. CWA Asset Management Group LLC now owns 4,052 shares of the specialty chemicals company’s stock valued at $526,000 after acquiring an additional 78 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of PPG Industries by 20.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 462 shares of the specialty chemicals company’s stock valued at $69,000 after acquiring an additional 80 shares during the period. Finally, Gryphon Financial Partners LLC boosted its stake in shares of PPG Industries by 1.7% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock valued at $727,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 0.2 %

NYSE:PPG opened at $131.66 on Tuesday. The stock has a 50-day simple moving average of $134.82 and a 200 day simple moving average of $139.98. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89. The company has a market cap of $30.87 billion, a PE ratio of 22.24, a PEG ratio of 1.63 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55.

PPG Industries (NYSE:PPGGet Free Report) last issued its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting the consensus estimate of $1.86. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business earned $1.82 EPS. On average, sell-side analysts expect that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year.

PPG Industries announced that its board has initiated a share buyback plan on Thursday, April 18th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be given a dividend of $0.65 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.60 annualized dividend and a yield of 1.97%. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish bought 2,061 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,774,388.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PPG shares. BMO Capital Markets reduced their price target on shares of PPG Industries from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 23rd. StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Bank of America decreased their target price on PPG Industries from $167.00 to $164.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. KeyCorp reduced their price target on shares of PPG Industries from $164.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, Citigroup dropped their target price on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $155.47.

Get Our Latest Stock Analysis on PPG

PPG Industries Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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