CIBC Private Wealth Group LLC Has $1.99 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

CIBC Private Wealth Group LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 28.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 17,196 shares of the specialty chemicals company’s stock after selling 6,871 shares during the period. CIBC Private Wealth Group LLC’s holdings in PPG Industries were worth $1,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of PPG Industries in the fourth quarter valued at approximately $470,535,000. First Eagle Investment Management LLC lifted its position in shares of PPG Industries by 138.9% during the 4th 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 acquiring an additional 1,858,895 shares during the period. Cooke & Bieler LP acquired a new stake in shares of PPG Industries during the 4th quarter worth $107,850,000. Vanguard Group Inc. increased its position in shares of 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 worth $3,508,210,000 after purchasing an additional 756,937 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in PPG Industries in the fourth quarter valued at about $82,071,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 1.0 %

NYSE:PPG opened at $110.03 on Thursday. PPG Industries, Inc. has a one year low of $105.64 and a one year high of $143.98. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market cap of $24.97 billion, a PE ratio of 23.26, a P/E/G ratio of 2.19 and a beta of 1.22. The firm’s 50 day simple moving average is $114.61 and its 200 day simple moving average is $120.85.

PPG Industries (NYSE:PPG) last issued 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 return on equity of 23.78% and a net margin of 6.41%. On average, research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.47%. PPG Industries’s payout ratio is 57.51%.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred 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 owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PPG shares. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Citigroup 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 Wednesday, December 18th. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. UBS Group lowered their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PPG Industries presently has a consensus rating of “Hold” and an average 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.