Beutel Goodman & Co Ltd. Buys 10,116 Shares of PPG Industries, Inc. (NYSE:PPG)

Beutel Goodman & Co Ltd. raised its position in PPG Industries, Inc. (NYSE:PPG) by 0.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,338,384 shares of the specialty chemicals company’s stock after buying an additional 10,116 shares during the period. PPG Industries comprises approximately 2.2% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 12th largest holding. Beutel Goodman & Co Ltd. owned about 1.44% of PPG Industries worth $398,770,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the last quarter. State Street Corp boosted its stake in shares of PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after purchasing an additional 491,774 shares during the last quarter. Wellington Management Group LLP grew its position in shares of PPG Industries by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after buying an additional 485,597 shares during the period. Norges Bank bought a new stake in shares of PPG Industries during the fourth quarter worth approximately $470,535,000. Finally, First Eagle Investment Management LLC lifted its holdings in PPG Industries by 138.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock valued at $381,876,000 after buying an additional 1,858,895 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on PPG shares. Citigroup dropped their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. UBS Group reduced their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has an average rating of “Hold” and a consensus price target of $138.15.

PPG Industries Price Performance

Shares of NYSE PPG opened at $107.32 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a market cap of $24.36 billion, a PE ratio of 22.69, a PEG ratio of 2.19 and a beta of 1.22. The company has a fifty day moving average price of $115.37 and a 200 day moving average price of $121.23. PPG Industries, Inc. has a 1-year low of $105.64 and a 1-year high of $145.61.

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

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

About PPG Industries

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.