Connor Clark & Lunn Investment Management Ltd. Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,635 shares of the specialty chemicals company's stock, valued at approximately $315,000.

Several other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC lifted its position in PPG Industries by 13.3% during the fourth quarter. Truvestments Capital LLC now owns 1,657 shares of the specialty chemicals company's stock valued at $198,000 after buying an additional 194 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of PPG Industries by 14.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,995 shares of the specialty chemicals company's stock valued at $716,000 after purchasing an additional 738 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of PPG Industries by 8.8% during the fourth quarter. HighTower Advisors LLC now owns 81,394 shares of the specialty chemicals company's stock valued at $9,723,000 after purchasing an additional 6,557 shares during the last quarter. Wealthfront Advisers LLC boosted its position in shares of PPG Industries by 256.2% in the 4th quarter. Wealthfront Advisers LLC now owns 23,761 shares of the specialty chemicals company's stock worth $2,838,000 after purchasing an additional 17,090 shares in the last quarter. Finally, Cooke & Bieler LP purchased a new stake in shares of PPG Industries in the fourth quarter worth $107,850,000. Institutional investors own 81.86% of the company's stock.

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Analyst Ratings Changes

Several research analysts have recently issued reports on PPG shares. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. KeyCorp cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered PPG Industries from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, PPG Industries presently has an average rating of "Hold" and an average price target of $138.15.

PPG Industries Price Performance

Shares of PPG stock traded down $0.64 on Tuesday, hitting $112.34. 469,264 shares of the stock traded hands, compared to its average volume of 1,617,964. The firm has a market cap of $25.50 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 2.19 and a beta of 1.22. 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 firm has a 50 day simple moving average of $116.06 and a two-hundred day simple moving average of $121.61. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data 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 return on equity of 23.78% and a net margin of 6.41%. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by company insiders.

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.