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

Cibc World Markets Corp grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 296.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,745 shares of the specialty chemicals company’s stock after buying an additional 94,054 shares during the period. Cibc World Markets Corp’s holdings in PPG Industries were worth $15,020,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Legend Financial Advisors Inc. acquired a new stake in PPG Industries in the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. boosted its position in shares of PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of PPG Industries in the 4th quarter valued at about $38,000. Crews Bank & Trust bought a new stake in PPG Industries in the 4th quarter valued at about $42,000. Finally, Sugar Maple Asset Management LLC acquired a new position in PPG Industries during the 4th quarter worth approximately $44,000. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. The Goldman Sachs Group reduced their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Citigroup cut their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, PPG Industries presently has a consensus rating of “Hold” and an average price target of $138.15.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $113.85 on Tuesday. The company has a market capitalization of $25.84 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company’s 50-day moving average is $116.33 and its 200 day moving average is $122.16. 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 fifty-two week low of $109.15 and a fifty-two week high of $145.61.

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

PPG Industries Announces Dividend

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

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

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.