Cibc World Markets Corp Has $15.02 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Cibc World Markets Corp boosted its position in PPG Industries, Inc. (NYSE:PPG) by 296.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,745 shares of the specialty chemicals company’s stock after purchasing an additional 94,054 shares during the quarter. Cibc World Markets Corp owned about 0.05% of PPG Industries worth $15,020,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP grew its stake in shares of PPG Industries by 41.9% in the third quarter. GSA Capital Partners LLP now owns 5,309 shares of the specialty chemicals company’s stock valued at $703,000 after acquiring an additional 1,568 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of PPG Industries by 13.0% during the third quarter. OneDigital Investment Advisors LLC now owns 5,895 shares of the specialty chemicals company’s stock worth $781,000 after purchasing an additional 677 shares during the period. CIBC Asset Management Inc increased its holdings in shares of PPG Industries by 7.5% during the third quarter. CIBC Asset Management Inc now owns 34,101 shares of the specialty chemicals company’s stock worth $4,517,000 after purchasing an additional 2,382 shares during the period. Empowered Funds LLC increased its stake in PPG Industries by 4.4% during the 3rd quarter. Empowered Funds LLC now owns 20,541 shares of the specialty chemicals company’s stock worth $2,721,000 after acquiring an additional 868 shares during the period. Finally, Natixis Advisors LLC raised its holdings in PPG Industries by 57.8% in the 3rd quarter. Natixis Advisors LLC now owns 137,372 shares of the specialty chemicals company’s stock valued at $18,196,000 after acquiring an additional 50,326 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $113.85 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61. The firm has a market cap of $25.84 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The firm’s fifty day moving average is $116.33 and its 200-day moving average is $122.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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%. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.39%. PPG Industries’s payout ratio is 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction on Friday, February 14th. The shares were 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 directly 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 SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PPG shares. Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft 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 report on Thursday, December 19th. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Citigroup lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Finally, Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. 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, the company has a consensus rating of “Hold” and a consensus target price of $138.15.

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.