CANADA LIFE ASSURANCE Co Purchases 21,618 Shares of PPG Industries, Inc. (NYSE:PPG)

CANADA LIFE ASSURANCE Co raised its position in PPG Industries, Inc. (NYSE:PPG) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 287,540 shares of the specialty chemicals company’s stock after acquiring an additional 21,618 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in PPG Industries were worth $34,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legend Financial Advisors Inc. acquired a new stake in PPG Industries in the fourth quarter worth about $27,000. Prudent Man Investment Management Inc. purchased a new stake in PPG Industries during the 4th quarter worth approximately $36,000. Albion Financial Group UT acquired a new position in PPG Industries during the 4th quarter valued at approximately $38,000. Crews Bank & Trust purchased a new position in shares of PPG Industries in the fourth quarter worth $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth $44,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

PPG Industries Price Performance

NYSE:PPG opened at $100.00 on Friday. The stock has a 50 day moving average of $109.37 and a two-hundred day moving average of $118.04. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The firm has a market cap of $22.70 billion, a P/E ratio of 21.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.72%. PPG Industries’s dividend payout ratio is presently 57.51%.

Wall Street Analyst Weigh In

PPG has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on PPG Industries from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada decreased their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Finally, Mizuho reduced their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $132.31.

About PPG Industries

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.