Impax Asset Management Group plc Boosts Stock Position in PPG Industries, Inc. (NYSE:PPG)

Impax Asset Management Group plc grew its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,358 shares of the specialty chemicals company's stock after buying an additional 16,567 shares during the period. Impax Asset Management Group plc owned 0.11% of PPG Industries worth $30,383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PPG. Legend Financial Advisors Inc. purchased a new stake in PPG Industries in the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. raised its position in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after buying an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in PPG Industries during the third quarter valued at $34,000. Albion Financial Group UT purchased a new position in PPG Industries during the fourth quarter worth about $38,000. Finally, Hara Capital LLC bought a new position in PPG Industries in the 3rd quarter worth about $40,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Up 0.6 %

PPG stock traded up $0.68 during midday trading on Wednesday, hitting $115.07. The company had a trading volume of 1,450,649 shares, compared to its average volume of 2,070,461. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60. The stock's 50 day moving average price is $117.83 and its 200 day moving average price is $123.15. The stock has a market cap of $26.11 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results 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 net margin of 6.41% and a return on equity of 23.78%. As a group, equities research analysts expect 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 Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.36%. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Analysts Set New Price Targets

PPG has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price objective on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Mizuho cut their price target on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. StockNews.com cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered 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 research report on Wednesday, February 12th. Finally, Royal Bank of Canada lowered their price target on 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. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $138.15.

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 that occurred 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 transaction, the chief executive officer now owns 35,833 shares in the company, 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 SEC, which is available through this hyperlink. Insiders own 0.56% of the company's stock.

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.