BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,953 Shares of PPG Industries, Inc. (NYSE:PPG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 13.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,124 shares of the specialty chemicals company's stock after selling 5,953 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in PPG Industries were worth $5,182,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Financial Connections Group Inc. purchased a new stake in PPG Industries in the 2nd quarter worth about $25,000. Pin Oak Investment Advisors Inc. lifted its stake in PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in PPG Industries in the 3rd quarter worth about $34,000. Rothschild Investment LLC purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $37,000. Finally, Hara Capital LLC purchased a new stake in shares of PPG Industries during the 3rd quarter worth about $40,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

Shares of NYSE:PPG traded up $0.21 during trading on Tuesday, hitting $126.18. 2,536,563 shares of the stock were exchanged, compared to its average volume of 1,579,666. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a market capitalization of $29.27 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The company's fifty day simple moving average is $126.58 and its 200-day simple moving average is $126.89. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the business posted $2.07 EPS. PPG Industries's revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's payout ratio is presently 43.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PPG shares. StockNews.com downgraded PPG Industries from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. cut their price target on PPG Industries from $155.00 to $145.00 and set an "overweight" rating for the company in a research note on Friday, October 18th. Royal Bank of Canada cut their price target on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating for the company in a research note on Tuesday, October 22nd. Mizuho cut their price target on PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and an average target price of $149.93.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by 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.