Royal Bank of Canada Has $100.37 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Royal Bank of Canada lifted its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 840,269 shares of the specialty chemicals company's stock after acquiring an additional 83,139 shares during the quarter. Royal Bank of Canada owned approximately 0.36% of PPG Industries worth $100,370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the last quarter. Wellington Management Group LLP increased its position in PPG Industries by 17.7% during the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock worth $1,262,234,000 after buying an additional 1,590,041 shares during the last quarter. Geode Capital Management LLC increased its position in PPG Industries by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock worth $660,752,000 after buying an additional 93,455 shares during the last quarter. Invesco Ltd. increased its position in PPG Industries by 6.1% during the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock worth $564,596,000 after buying an additional 271,699 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its position in PPG Industries by 482.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock worth $518,132,000 after buying an additional 3,592,655 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Stock Up 0.1%

Shares of NYSE:PPG opened at $114.16 on Tuesday. The firm has a market cap of $25.91 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.19 and a beta of 1.20. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The business has a fifty day simple moving average of $106.50 and a 200 day simple moving average of $114.99.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.10. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. PPG Industries's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $1.87 EPS. Analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.38%. PPG Industries's payout ratio is currently 58.24%.

Wall Street Analysts Forecast Growth

PPG has been the topic of several research reports. Wells Fargo & Company upped their target price on PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft increased their price target on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. reduced their price target on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Finally, UBS Group upped their target price on PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $128.42.

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.

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