National Bank of Canada FI Sells 100,654 Shares of PPG Industries, Inc. (NYSE:PPG)

Key Points

• National Bank of Canada FI reduced its holdings in PPG Industries by 34.9%, selling 100,654 shares and now owns 0.08% of the company valued at approximately $20.5 million.
• Analysts have mixed views on PPG Industries, with Deutsche Bank raising its price target to $140 while JPMorgan lowered it to $105, reflecting a consensus rating of "Moderate Buy" with a target of $129.82.
• PPG Industries announced a quarterly dividend increase to $0.71 per share, with an annual yield of 2.7%, reflecting a commitment to returning value to shareholders.

National Bank of Canada FI decreased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 34.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 187,957 shares of the specialty chemicals company's stock after selling 100,654 shares during the period. National Bank of Canada FI owned approximately 0.08% of PPG Industries worth $20,553,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in shares of PPG Industries in the 4th quarter valued at $26,000. Cheviot Value Management LLC purchased a new stake in shares of PPG Industries in the 1st quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in shares of PPG Industries in the 1st quarter valued at $30,000. CVA Family Office LLC boosted its stake in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 113 shares in the last quarter. Finally, Financial Connections Group Inc. boosted its stake in shares of PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Trading Down 0.3%

Shares of NYSE:PPG traded down $0.36 on Friday, hitting $111.59. The company had a trading volume of 258,131 shares, compared to its average volume of 2,076,214. The firm's 50-day simple moving average is $112.45 and its two-hundred day simple moving average is $110.94. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $25.19 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 2.33 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same period last year, the company posted $2.50 EPS. The company's quarterly revenue was down .9% compared to the same quarter last year. Equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.5%. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio is 64.40%.

Analysts Set New Price Targets

PPG has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Wells Fargo & Company upped their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Citigroup increased their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Mizuho increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

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.