PPG Industries, Inc. (NYSE:PPG) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 13.4% during the 4th quarter, according to 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 acquiring an additional 17,326 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of PPG Industries worth $21,941,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Valued Wealth Advisors LLC acquired a new position in PPG Industries in the fourth quarter valued at about $26,000. SJS Investment Consulting Inc. lifted its stake in PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company's stock valued at $27,000 after buying an additional 153 shares during the period. CVA Family Office LLC acquired a new position in PPG Industries in the fourth quarter valued at about $28,000. Quarry LP acquired a new position in PPG Industries in the second quarter valued at about $29,000. Finally, Financial Connections Group Inc. acquired a new position in PPG Industries in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Stock Down 3.1 %

PPG stock traded down $4.20 during mid-day trading on Friday, reaching $130.92. The company had a trading volume of 4,643,208 shares, compared to its average volume of 1,771,701. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05. The stock has a 50 day simple moving average of $140.53 and a two-hundred day simple moving average of $138.87. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.61 and a beta of 1.28. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting analysts' consensus estimates of $1.86. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The business's revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.82 earnings per share. As a group, equities analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.60 annualized dividend and a dividend yield of 1.99%. PPG Industries's dividend payout ratio is currently 48.69%.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction that occurred 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 directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PPG shares. Barclays lowered PPG Industries from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $163.00 to $149.00 in a research note on Tuesday, February 27th. Vertical Research raised PPG Industries from a "hold" rating to a "buy" rating in a research report on Wednesday, January 3rd. Robert W. Baird reaffirmed an "outperform" rating and set a $150.00 price target on shares of PPG Industries in a research report on Friday, January 19th. Redburn Atlantic lowered PPG Industries from a "buy" rating to a "neutral" rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Finally, Wolfe Research started coverage on PPG Industries in a research report on Friday, March 1st. They set a "peer perform" rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.00.

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.