CIBC Asset Management Inc Boosts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

CIBC Asset Management Inc boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 7.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,101 shares of the specialty chemicals company’s stock after buying an additional 2,382 shares during the period. CIBC Asset Management Inc’s holdings in PPG Industries were worth $4,517,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Insight Folios Inc grew its position in shares of PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares in the last quarter. Klingman & Associates LLC grew its position in shares of PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after purchasing an additional 83 shares in the last quarter. Fragasso Financial Advisors Inc grew its position in PPG Industries by 0.6% in the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after acquiring an additional 84 shares during the period. Finally, SeaCrest Wealth Management LLC grew its position in PPG Industries by 2.6% in the second quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock worth $435,000 after acquiring an additional 86 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

NYSE:PPG opened at $122.53 on Monday. The firm has a market capitalization of $28.43 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.26. The business’s fifty day moving average price is $127.37 and its 200 day moving average price is $127.78. 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 12 month low of $118.07 and a 12 month high of $151.16.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion during 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 business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $2.07 EPS. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PPG. Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. KeyCorp lowered their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Barclays lowered their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

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.