Ilmarinen Mutual Pension Insurance Co Raises Position in PPG Industries, Inc. (NYSE:PPG)

Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 39.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,500 shares of the specialty chemicals company’s stock after buying an additional 8,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in PPG Industries were worth $3,404,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Public Sector Pension Investment Board lifted its position in shares of PPG Industries by 11.1% during the third quarter. Public Sector Pension Investment Board now owns 10,038 shares of the specialty chemicals company’s stock worth $1,330,000 after purchasing an additional 1,000 shares in the last quarter. HighTower Advisors LLC increased its stake in PPG Industries by 13.5% during the 3rd quarter. HighTower Advisors LLC now owns 74,837 shares of the specialty chemicals company’s stock worth $9,914,000 after buying an additional 8,905 shares during the period. Janus Henderson Group PLC lifted its holdings in PPG Industries by 10.0% in the 3rd quarter. Janus Henderson Group PLC now owns 36,422 shares of the specialty chemicals company’s stock worth $4,824,000 after buying an additional 3,300 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in PPG Industries by 146.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,560 shares of the specialty chemicals company’s stock valued at $1,001,000 after buying an additional 4,488 shares during the last quarter. Finally, IHT Wealth Management LLC grew its stake in shares of PPG Industries by 35.7% during the third quarter. IHT Wealth Management LLC now owns 4,592 shares of the specialty chemicals company’s stock valued at $604,000 after acquiring an additional 1,208 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

PPG Industries Stock Down 4.8 %

NYSE:PPG opened at $98.98 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 stock has a 50 day moving average of $113.74 and a 200-day moving average of $120.49. The firm has a market capitalization of $22.47 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a 52 week low of $97.49 and a 52 week high of $142.30.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data 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 return on equity of 23.78% and a net margin of 6.41%. Analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.75%. PPG Industries’s dividend payout ratio is presently 57.51%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. UBS Group decreased their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company dropped their price target on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $137.77.

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.