BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $5.68 Million Position in PPG Industries, Inc. (NYSE:PPG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in PPG Industries, Inc. (NYSE:PPG) by 60.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,077 shares of the specialty chemicals company’s stock after purchasing an additional 16,924 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PPG Industries were worth $5,675,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PPG. Marshall Wace LLP raised its holdings in shares of PPG Industries by 42.6% in the 2nd quarter. Marshall Wace LLP now owns 59,661 shares of the specialty chemicals company’s stock worth $7,511,000 after buying an additional 17,828 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of PPG Industries by 15.2% in the 2nd quarter. Bank of Montreal Can now owns 305,693 shares of the specialty chemicals company’s stock worth $38,927,000 after purchasing an additional 40,303 shares during the last quarter. Evergreen Capital Management LLC increased its position in shares of PPG Industries by 4.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,208 shares of the specialty chemicals company’s stock worth $656,000 after purchasing an additional 198 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of PPG Industries during the 2nd quarter worth about $4,679,000. Finally, Public Sector Pension Investment Board lifted its holdings in PPG Industries by 73.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 9,038 shares of the specialty chemicals company’s stock valued at $1,138,000 after purchasing an additional 3,824 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

PPG Industries stock opened at $134.54 on Friday. The company has a market cap of $31.39 billion, a PE ratio of 22.73, a PEG ratio of 1.71 and a beta of 1.26. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company’s 50-day moving average is $125.42 and its two-hundred day moving average is $130.53.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the firm earned $2.25 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts anticipate that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were paid a dividend of $0.68 per share. The ex-dividend date was Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.02%. PPG Industries’s payout ratio is 45.95%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. KeyCorp dropped their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Royal Bank of Canada dropped their price target on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. UBS Group boosted their price objective on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Citigroup lowered their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Barclays reduced their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $151.08.

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.