Mackenzie Financial Corp Raises Position in PPG Industries, Inc. (NYSE:PPG)

Mackenzie Financial Corp increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,714 shares of the specialty chemicals company’s stock after purchasing an additional 17,326 shares during the period. Mackenzie Financial Corp owned 0.06% of PPG Industries worth $21,941,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PPG. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 252,358 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of PPG Industries by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 4,854,892 shares of the specialty chemicals company’s stock valued at $647,037,000 after purchasing an additional 106,294 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of PPG Industries by 163,082.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after purchasing an additional 4,155,341 shares during the period. Invesco Ltd. increased its position in PPG Industries by 41.1% during the 3rd quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after purchasing an additional 959,849 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in PPG Industries by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,193,621 shares of the specialty chemicals company’s stock valued at $418,589,000 after buying an additional 65,996 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Stock Performance

PPG stock opened at $135.11 on Friday. PPG Industries, Inc. has a 1 year low of $120.32 and a 1 year high of $152.89. The stock has a market capitalization of $31.80 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The stock’s fifty day moving average is $140.53 and its two-hundred day moving average is $138.87.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share 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 firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the firm posted $1.82 EPS. PPG Industries’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts predict that PPG Industries, Inc. will post 8.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PPG. Wells Fargo & Company upgraded shares of PPG Industries from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $150.00 to $163.00 in a report on Thursday, April 11th. Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. KeyCorp dropped their target price on PPG Industries from $167.00 to $164.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. 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. Finally, Royal Bank of Canada lowered their price objective on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.40.

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.