PPG Industries, Inc. (NYSE:PPG) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI lifted its holdings in PPG Industries, Inc. (NYSE:PPG) by 108.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,451 shares of the specialty chemicals company’s stock after buying an additional 54,903 shares during the period. National Bank of Canada FI’s holdings in PPG Industries were worth $15,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Valued Wealth Advisors LLC purchased a new stake in shares of PPG Industries in the fourth quarter valued at about $26,000. SJS Investment Consulting Inc. grew its position in PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 153 shares during the period. CVA Family Office LLC acquired a new stake in PPG Industries during the fourth quarter worth $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at $29,000. Finally, Financial Connections Group Inc. purchased a new stake in PPG Industries in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lowered their price objective on shares of PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday, April 23rd. Bank of America dropped their target price on PPG Industries from $167.00 to $164.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Wells Fargo & Company upgraded shares of PPG Industries from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $150.00 to $163.00 in a report on Thursday, April 11th. Finally, Barclays reduced their target price on shares of PPG Industries from $149.00 to $148.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.47.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $134.21 on Wednesday. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The stock has a market capitalization of $31.47 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.65 and a beta of 1.30. The company has a 50-day simple moving average of $137.84 and a 200-day simple moving average of $139.15. 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:PPG) last released its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 EPS. On average, analysts predict that PPG Industries, Inc. will post 8.45 EPS for the current year.

PPG Industries declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 18th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio is presently 43.92%.

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.