Impax Asset Management Group plc Has $30.38 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Impax Asset Management Group plc lifted its stake in PPG Industries, Inc. (NYSE:PPG) by 7.0% during the 4th quarter, Holdings Channel reports. The firm owned 254,358 shares of the specialty chemicals company’s stock after acquiring an additional 16,567 shares during the period. Impax Asset Management Group plc’s holdings in PPG Industries were worth $30,383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. increased its stake in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in PPG Industries in the third quarter worth $34,000. Albion Financial Group UT bought a new position in shares of PPG Industries during the fourth quarter worth $38,000. Finally, Hara Capital LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at $40,000. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PPG shares. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. The Goldman Sachs Group dropped their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Mizuho dropped their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.15.

PPG Industries Stock Performance

Shares of PPG stock opened at $114.88 on Monday. The stock has a market cap of $26.65 billion, a P/E ratio of 24.29, a P/E/G ratio of 2.19 and a beta of 1.23. The company has a fifty day moving average price of $118.29 and a two-hundred day moving average price of $123.28. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is presently 57.51%.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.55% of the company’s stock.

PPG Industries Company 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.