Mackenzie Financial Corp Has $21.94 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Mackenzie Financial Corp grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 146,714 shares of the specialty chemicals company’s stock after purchasing an additional 17,326 shares during the quarter. Mackenzie Financial Corp’s holdings in PPG Industries were worth $21,941,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PPG. Vontobel Holding Ltd. raised its stake in PPG Industries by 51.9% during the 1st quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock valued at $797,000 after purchasing an additional 2,048 shares during the last quarter. Sei Investments Co. increased its holdings in shares of PPG Industries by 14.7% during the 1st quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock worth $3,099,000 after purchasing an additional 3,025 shares during the period. Prudential PLC acquired a new position in shares of PPG Industries during the first quarter valued at about $619,000. Vanguard Group Inc. lifted its stake in shares of PPG Industries by 1.3% in the first quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after buying an additional 252,358 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its position in PPG Industries by 7.1% during the first quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock worth $2,553,000 after buying an additional 1,283 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PPG shares. Redburn Atlantic cut PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a report on Thursday, February 1st. Wolfe Research assumed coverage on shares of PPG Industries in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Royal Bank of Canada lowered their target price on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a research note on Monday, January 22nd. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $150.00 price objective on shares of PPG Industries in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $158.40.

PPG Industries Stock Up 0.1 %

Shares of NYSE:PPG opened at $135.11 on Friday. PPG Industries, Inc. has a 12 month low of $120.32 and a 12 month high of $152.89. The firm has a market cap of $31.80 billion, a P/E ratio of 25.30, a P/E/G ratio of 1.61 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $140.53 and its two-hundred day moving average price is $138.87.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting the consensus estimate of $1.86. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the prior year, the firm earned $1.82 earnings per share. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. As a group, research analysts forecast that PPG Industries, Inc. will post 8.46 EPS for the current fiscal year.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.