Beutel Goodman & Co Ltd. Boosts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Beutel Goodman & Co Ltd. boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,338,384 shares of the specialty chemicals company's stock after acquiring an additional 10,116 shares during the period. PPG Industries comprises about 2.2% of Beutel Goodman & Co Ltd.'s portfolio, making the stock its 12th largest position. Beutel Goodman & Co Ltd. owned approximately 1.44% of PPG Industries worth $398,770,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of PPG Industries by 68.3% during the 3rd quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company's stock worth $115,757,000 after purchasing an additional 354,740 shares during the last quarter. Brooklyn Investment Group bought a new position in PPG Industries in the third quarter worth about $79,000. Townsquare Capital LLC lifted its position in shares of PPG Industries by 12.7% during the third quarter. Townsquare Capital LLC now owns 7,232 shares of the specialty chemicals company's stock valued at $958,000 after buying an additional 813 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PPG Industries by 1.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 211,855 shares of the specialty chemicals company's stock valued at $28,062,000 after buying an additional 2,728 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of PPG Industries by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company's stock worth $248,650,000 after buying an additional 36,047 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

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Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries 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 completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. UBS Group lowered their target price on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. StockNews.com cut PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. JPMorgan Chase & Co. downgraded PPG Industries from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Finally, KeyCorp downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. 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.com, PPG Industries presently has an average rating of "Hold" and an average target price of $138.15.

PPG Industries Stock Performance

Shares of NYSE:PPG traded up $0.33 during midday trading on Wednesday, reaching $109.28. The company's stock had a trading volume of 2,244,174 shares, compared to its average volume of 1,734,220. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average of $114.86 and a 200 day moving average of $120.92. PPG Industries, Inc. has a twelve month low of $105.64 and a twelve month high of $143.98. The firm has a market capitalization of $24.80 billion, a PE ratio of 23.10, a P/E/G ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.49%. PPG Industries's payout ratio is 57.51%.

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.