CANADA LIFE ASSURANCE Co Buys 21,618 Shares of PPG Industries, Inc. (NYSE:PPG)

CANADA LIFE ASSURANCE Co boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 287,540 shares of the specialty chemicals company’s stock after acquiring an additional 21,618 shares during the period. CANADA LIFE ASSURANCE Co owned 0.12% of PPG Industries worth $34,319,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mutual Advisors LLC raised its position in shares of PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after purchasing an additional 92 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after buying an additional 95 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in PPG Industries by 1.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock valued at $990,000 after acquiring an additional 103 shares during the period. Sachetta LLC lifted its position in shares of PPG Industries by 18.4% in the fourth quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock valued at $81,000 after acquiring an additional 105 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in shares of PPG Industries by 0.9% in the fourth quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock worth $1,407,000 after acquiring an additional 107 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. UBS Group dropped their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $132.31.

PPG Industries Trading Up 1.6 %

PPG stock opened at $100.00 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market capitalization of $22.70 billion, a PE ratio of 21.14, a P/E/G ratio of 2.19 and a beta of 1.16. The firm’s 50-day moving average is $109.37 and its 200 day moving average is $118.04. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.72%. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

Insider Activity

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

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.