Elo Mutual Pension Insurance Co Boosts Stake in PPG Industries, Inc. (NYSE:PPG)

Elo Mutual Pension Insurance Co raised its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 12.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,268 shares of the specialty chemicals company's stock after acquiring an additional 2,516 shares during the period. Elo Mutual Pension Insurance Co's holdings in PPG Industries were worth $2,779,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the fourth quarter worth about $27,000. Albion Financial Group UT bought a new position in PPG Industries in the 4th quarter worth $38,000. Crews Bank & Trust bought a new stake in PPG Industries during the fourth quarter valued at about $42,000. Sugar Maple Asset Management LLC purchased a new position in shares of PPG Industries in the fourth quarter valued at about $44,000. Finally, Millstone Evans Group LLC bought a new position in shares of PPG Industries in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

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Analyst Upgrades and Downgrades

PPG has been the topic of several research analyst reports. KeyCorp downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Seaport Res Ptn downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. StockNews.com cut PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. UBS Group lowered their price objective on PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Finally, The Goldman Sachs Group cut their target price on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $138.15.

PPG Industries Stock Down 0.3 %

PPG Industries stock traded down $0.31 during midday trading on Wednesday, hitting $108.64. 1,803,790 shares of the company's stock were exchanged, compared to its average volume of 1,732,563. PPG Industries, Inc. has a 12 month low of $105.64 and a 12 month high of $143.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a market cap of $24.66 billion, a PE ratio of 23.00, a P/E/G ratio of 2.19 and a beta of 1.22. The firm has a 50-day moving average of $114.86 and a two-hundred day moving average of $120.92.

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

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.50%. PPG Industries's dividend payout ratio is presently 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.