CIBC Asset Management Inc Has $3.06 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

CIBC Asset Management Inc grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,399 shares of the specialty chemicals company’s stock after acquiring an additional 662 shares during the period. CIBC Asset Management Inc’s holdings in PPG Industries were worth $3,060,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Moors & Cabot Inc. lifted its position in PPG Industries by 135.6% during the third quarter. Moors & Cabot Inc. now owns 25,000 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 14,390 shares during the last quarter. KB Financial Partners LLC raised its position in shares of PPG Industries by 131.9% in the second quarter. KB Financial Partners LLC now owns 211 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 120 shares in the last quarter. Tompkins Financial Corp acquired a new stake in shares of PPG Industries in the third quarter valued at approximately $39,000. Arlington Partners LLC acquired a new stake in shares of PPG Industries in the third quarter valued at approximately $47,000. Finally, Berman Capital Advisors LLC raised its position in shares of PPG Industries by 199.2% in the second quarter. Berman Capital Advisors LLC now owns 365 shares of the specialty chemicals company’s stock valued at $62,000 after buying an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.

NYSE PPG opened at $165.00 on Friday. The firm’s fifty day moving average price is $164.38 and its two-hundred day moving average price is $161.33. The stock has a market cap of $39.17 billion, a PE ratio of 27.73, a PEG ratio of 1.35 and a beta of 1.18. PPG Industries, Inc. has a fifty-two week low of $132.10 and a fifty-two week high of $182.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.92 and a current ratio of 1.34.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, October 19th. The specialty chemicals company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.10. PPG Industries had a net margin of 8.71% and a return on equity of 27.62%. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the previous year, the firm posted $1.93 earnings per share. PPG Industries’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, sell-side analysts predict that PPG Industries, Inc. will post 6.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 10th. Investors of record on Wednesday, November 10th were paid a $0.59 dividend. The ex-dividend date was Tuesday, November 9th. This represents a $2.36 annualized dividend and a dividend yield of 1.43%. PPG Industries’s dividend payout ratio is 39.66%.

A number of equities research analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of PPG Industries from $185.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, October 22nd. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and set a $165.00 price target for the company. in a research report on Friday, October 22nd. Evercore ISI upgraded shares of PPG Industries from an “in-line” rating to an “outperform” rating and set a $190.00 price target for the company in a research report on Tuesday, December 7th. Vertical Research cut shares of PPG Industries from a “buy” rating to a “hold” rating and set a $176.00 price objective on the stock. in a research note on Tuesday, January 4th. Finally, Mizuho lifted their price objective on shares of PPG Industries from $180.00 to $184.00 and gave the company a “buy” rating in a research note on Friday, October 22nd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $178.52.

About PPG Industries

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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

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