Alberta Investment Management Corp Takes $2.62 Million Position in PPG Industries, Inc. (NYSE:PPG)

Alberta Investment Management Corp bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 1st quarter, Holdings Channel reports. The firm bought 31,300 shares of the specialty chemicals company’s stock, valued at approximately $2,617,000.

Other hedge funds have also added to or reduced their stakes in the company. Savior LLC purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $26,000. Tompkins Financial Corp lifted its holdings in shares of PPG Industries by 54.6% during the fourth quarter. Tompkins Financial Corp now owns 235 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 83 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $33,000. Coastal Investment Advisors Inc. lifted its holdings in shares of PPG Industries by 45.2% during the fourth quarter. Coastal Investment Advisors Inc. now owns 331 shares of the specialty chemicals company’s stock valued at $43,000 after purchasing an additional 103 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of PPG Industries by 55.8% during the first quarter. Valeo Financial Advisors LLC now owns 483 shares of the specialty chemicals company’s stock valued at $46,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Shares of PPG stock opened at $96.18 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.36 and a quick ratio of 1.00. The company has a market capitalization of $22.43 billion, a P/E ratio of 19.55, a P/E/G ratio of 3.89 and a beta of 1.24. The company’s 50-day simple moving average is $90.17 and its two-hundred day simple moving average is $112.16. PPG Industries, Inc. has a one year low of $69.77 and a one year high of $134.36.

PPG Industries (NYSE:PPG) last issued its earnings results on Monday, April 27th. The specialty chemicals company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.02. The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.42 billion. PPG Industries had a net margin of 7.88% and a return on equity of 27.56%. The company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 EPS. On average, research analysts expect that PPG Industries, Inc. will post 4.33 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, May 11th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.12%. PPG Industries’s dividend payout ratio is presently 32.80%.

PPG has been the subject of several recent research reports. SunTrust Banks lowered their target price on shares of PPG Industries from $127.00 to $92.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Morgan Stanley decreased their price objective on shares of PPG Industries from $130.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Berenberg Bank lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Wednesday, March 25th. Barclays decreased their price objective on shares of PPG Industries from $135.00 to $106.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Finally, UBS Group decreased their price objective on shares of PPG Industries from $110.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $108.35.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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

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