Ontario Teachers Pension Plan Board Has $1.98 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Ontario Teachers Pension Plan Board lifted its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 51.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,602 shares of the specialty chemicals company's stock after purchasing an additional 5,666 shares during the period. Ontario Teachers Pension Plan Board's holdings in PPG Industries were worth $1,983,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PPG. Barclays PLC increased its stake in shares of PPG Industries by 21.0% during the 3rd quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company's stock worth $151,276,000 after purchasing an additional 198,353 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of PPG Industries by 69.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company's stock worth $7,153,000 after purchasing an additional 22,198 shares during the last quarter. Tidal Investments LLC increased its position in shares of PPG Industries by 1.2% in the 3rd quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company's stock valued at $1,763,000 after buying an additional 162 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock worth $403,049,000 after acquiring an additional 170,339 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in PPG Industries by 8.9% during the fourth quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company's stock worth $731,000 after purchasing an additional 498 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

PPG traded up $1.58 on Friday, hitting $100.00. The company had a trading volume of 2,240,529 shares, compared to its average volume of 1,801,972. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. 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 stock has a market cap of $22.70 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. The company's fifty day moving average price is $109.37 and its 200 day moving average price is $118.04.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS 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%. Equities analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders 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 yield of 2.72%. PPG Industries's dividend payout ratio is currently 57.51%.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

PPG has been the subject of several analyst reports. Bank of America reiterated a "neutral" rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday. Mizuho lowered their target price on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Barclays restated an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. JPMorgan Chase & Co. downgraded 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 research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of "Hold" and a consensus price target of $132.31.

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.