National Bank of Canada FI Increases Stake in PPG Industries, Inc. (NYSE:PPG)

National Bank of Canada FI boosted its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 56.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,674 shares of the specialty chemicals company's stock after purchasing an additional 43,031 shares during the period. National Bank of Canada FI owned approximately 0.05% of PPG Industries worth $15,852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Connections Group Inc. purchased a new stake in shares of PPG Industries during the second quarter worth $25,000. Pin Oak Investment Advisors Inc. increased its holdings in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new stake in PPG Industries in the 3rd quarter valued at about $34,000. Rothschild Investment LLC purchased a new position in shares of PPG Industries in the 2nd quarter valued at about $37,000. Finally, Hara Capital LLC acquired a new position in shares of PPG Industries during the third quarter worth about $40,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

Shares of NYSE PPG traded down $2.83 during trading on Wednesday, hitting $122.59. 1,999,546 shares of the company were exchanged, compared to its average volume of 1,607,985. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a market cap of $28.44 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.92 and a beta of 1.24. The firm's fifty day moving average price is $125.98 and its 200 day moving average price is $126.64.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.07 earnings per share. On average, sell-side analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's dividend payout ratio is currently 43.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com downgraded shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating for the company in a research report on Friday, October 18th. Royal Bank of Canada dropped their price objective on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 22nd. BMO Capital Markets reissued an "outperform" rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Mizuho dropped their price target on PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $149.93.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares of the company's stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.55% 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.