CIBC Asset Management Inc Cuts Holdings in PPG Industries, Inc. (PPG)

CIBC Asset Management Inc reduced its position in PPG Industries, Inc. (NYSE:PPG) by 4.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,443 shares of the specialty chemicals company’s stock after selling 1,411 shares during the quarter. CIBC Asset Management Inc’s holdings in PPG Industries were worth $3,308,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Investment Partners Ltd. OH ADV raised its stake in shares of PPG Industries by 0.3% during the second quarter. Investment Partners Ltd. OH ADV now owns 2,485 shares of the specialty chemicals company’s stock worth $273,000 after acquiring an additional 7 shares in the last quarter. Sigma Planning Corp raised its stake in shares of PPG Industries by 0.3% during the second quarter. Sigma Planning Corp now owns 4,069 shares of the specialty chemicals company’s stock worth $447,000 after acquiring an additional 12 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC raised its stake in shares of PPG Industries by 0.4% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock worth $348,000 after acquiring an additional 12 shares in the last quarter. Balasa Dinverno & Foltz LLC raised its stake in shares of PPG Industries by 1.6% during the second quarter. Balasa Dinverno & Foltz LLC now owns 2,027 shares of the specialty chemicals company’s stock worth $223,000 after acquiring an additional 31 shares in the last quarter. Finally, First Interstate Bank increased its stake in shares of PPG Industries by 3.1% in the second quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after buying an additional 35 shares during the period. Institutional investors own 74.67% of the company’s stock.

Several research analysts recently commented on PPG shares. Robert W. Baird reaffirmed a “buy” rating and issued a $115.00 target price on shares of PPG Industries in a research note on Friday, September 1st. Bank of America Corporation set a $120.00 target price on shares of PPG Industries and gave the stock a “hold” rating in a research note on Friday, October 20th. Royal Bank Of Canada reissued a “hold” rating and set a $109.00 price objective on shares of PPG Industries in a research report on Wednesday, September 13th. Deutsche Bank AG boosted their price objective on shares of PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Finally, Citigroup Inc. boosted their price objective on shares of PPG Industries from $114.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $119.36.

PPG Industries, Inc. (NYSE:PPG) opened at $114.01 on Friday. PPG Industries, Inc. has a 52-week low of $93.80 and a 52-week high of $119.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.65 and a quick ratio of 1.26. The firm has a market capitalization of $29,010.00, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.26 and a beta of 1.60.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.52. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the firm earned $1.56 EPS. PPG Industries’s revenue was up 3.2% on a year-over-year basis. equities analysts forecast that PPG Industries, Inc. will post 5.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is 35.86%.

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About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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