Bank of Montreal Can Has $46.67 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Bank of Montreal Can boosted its position in PPG Industries, Inc. (NYSE:PPG) by 13.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 346,860 shares of the specialty chemicals company’s stock after purchasing an additional 41,167 shares during the period. Bank of Montreal Can’s holdings in PPG Industries were worth $46,673,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Connections Group Inc. acquired a new position in PPG Industries in the second quarter valued at $25,000. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries during the third quarter valued at about $34,000. Rothschild Investment LLC acquired a new position in shares of PPG Industries during the second quarter valued at about $37,000. Hara Capital LLC acquired a new position in shares of PPG Industries during the third quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of PPG Industries during the third quarter valued at about $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Up 0.0 %

Shares of PPG stock opened at $123.41 on Thursday. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a 50-day simple moving average of $126.80 and a two-hundred day simple moving average of $127.22. The company has a market capitalization of $28.63 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.92 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company posted $2.07 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts anticipate that PPG Industries, Inc. will post 8.18 EPS 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 given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho dropped their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by insiders.

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.