Canada Post Corp Registered Pension Plan Takes $524,000 Position in PPG Industries, Inc. (NYSE:PPG)

Canada Post Corp Registered Pension Plan bought a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,390 shares of the specialty chemicals company's stock, valued at approximately $524,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in PPG Industries by 2.6% during the 4th 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. Wellington Management Group LLP lifted its holdings in PPG Industries by 17.7% in the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after acquiring an additional 1,590,041 shares during the period. Geode Capital Management LLC grew its stake in shares of PPG Industries by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock worth $660,752,000 after purchasing an additional 93,455 shares during the period. Invesco Ltd. increased its holdings in PPG Industries by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock valued at $564,596,000 after buying an additional 271,699 shares in the last quarter. Finally, Norges Bank acquired a new position in PPG Industries during the fourth quarter worth $470,535,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. StockNews.com cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Royal Bank of Canada decreased their target price on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lowered shares of PPG Industries from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, PPG Industries has an average rating of "Hold" and a consensus target price of $132.31.

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value 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. The trade was a 11.81 % decrease in their position. The transaction 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 corporate insiders.

PPG Industries Stock Down 1.4 %

NYSE:PPG traded down $1.40 during trading hours on Monday, hitting $98.65. The stock had a trading volume of 163,385 shares, compared to its average volume of 1,784,176. The business has a 50 day simple moving average of $109.37 and a two-hundred day simple moving average of $117.88. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. 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 company has a market cap of $22.39 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is currently 57.51%.

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.