TD Asset Management Inc cut its holdings in PPG Industries, Inc. (NYSE:PPG – Free Report) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,775 shares of the specialty chemicals company’s stock after selling 5,096 shares during the period. TD Asset Management Inc owned about 0.10% of PPG Industries worth $23,850,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Dorato Capital Management purchased a new stake in shares of PPG Industries during the 4th quarter worth approximately $26,000. Quarry LP bought a new stake in shares of PPG Industries during the 3rd quarter valued at $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of PPG Industries during the fourth quarter valued at about $51,000. Entrust Financial LLC bought a new stake in PPG Industries during the 4th quarter worth approximately $55,000. Finally, Rosenberg Matthew Hamilton raised its position in shares of PPG Industries by 226.7% in the fourth quarter. Rosenberg Matthew Hamilton now owns 624 shares of the specialty chemicals company’s stock worth $64,000 after buying an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
PPG Industries Stock Performance
NYSE PPG opened at $114.08 on Monday. The company has a 50-day simple moving average of $108.47 and a two-hundred day simple moving average of $109.14. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The firm has a market cap of $25.43 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.66 and a beta of 1.06.
PPG Industries Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, May 11th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, May 11th. PPG Industries’s payout ratio is 40.51%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on PPG shares. Jefferies Financial Group lowered their target price on shares of PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. The Goldman Sachs Group lowered their price target on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price target on PPG Industries from $114.00 to $119.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 16th. Evercore increased their price objective on PPG Industries from $112.00 to $128.00 in a research report on Wednesday, February 18th. Finally, UBS Group boosted their target price on PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $121.79.
Read Our Latest Stock Report on PPG Industries
PPG Industries Company Profile
PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.
PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.
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