PPG Industries, Inc. $PPG Position Raised by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 177,098 shares of the specialty chemicals company’s stock after acquiring an additional 5,228 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.08% of PPG Industries worth $18,928,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Quarry LP acquired a new position in PPG Industries during the 3rd quarter valued at about $26,000. Dorato Capital Management acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $26,000. Resources Management Corp CT ADV increased its stake in shares of PPG Industries by 900.0% in the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 225 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of PPG Industries during the fourth quarter valued at approximately $30,000. Finally, DV Equities LLC bought a new stake in shares of PPG Industries during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $118.61 on Tuesday. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.71 and a beta of 1.05. The stock’s 50 day moving average price is $116.08 and its 200 day moving average price is $113.44. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the firm posted $1.72 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 2.5%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries’s dividend payout ratio (DPR) is presently 42.23%.

Analysts Set New Price Targets

PPG has been the subject of a number of recent analyst reports. Citigroup increased their price objective on PPG Industries from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Royal Bank Of Canada lifted their target price on PPG Industries from $119.00 to $129.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. reduced their price target on PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. UBS Group increased their price target on PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $126.13.

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.