Canada Pension Plan Investment Board Sells 65,900 Shares of PPG Industries, Inc. (NYSE:PPG)

Canada Pension Plan Investment Board cut its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 422,840 shares of the specialty chemicals company's stock after selling 65,900 shares during the quarter. Canada Pension Plan Investment Board owned about 0.18% of PPG Industries worth $50,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the fourth quarter worth about $27,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PPG Industries during the fourth quarter worth approximately $36,000. Albion Financial Group UT bought a new stake in shares of PPG Industries in the fourth quarter worth $38,000. Crews Bank & Trust bought a new position in PPG Industries during the 4th quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC acquired a new position in PPG Industries during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on PPG shares. Bank of America reaffirmed a "neutral" rating and set a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut shares of PPG Industries from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Citigroup decreased their target price on PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, StockNews.com lowered PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $130.67.

PPG Industries Price Performance

Shares of NYSE:PPG traded up $2.18 on Thursday, reaching $104.01. 296,241 shares of the company traded hands, compared to its average volume of 2,272,460. The stock has a market capitalization of $23.61 billion, a PE ratio of 21.99, a P/E/G ratio of 2.19 and a beta of 1.16. 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's 50 day moving average is $108.42 and its 200-day moving average is $117.46. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24.

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 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%. As a group, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries's payout ratio is 57.51%.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company's stock.

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.