The Manufacturers Life Insurance Company Has $16.39 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

The Manufacturers Life Insurance Company decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,188 shares of the specialty chemicals company's stock after selling 7,888 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of PPG Industries worth $16,387,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in PPG Industries during the 4th quarter worth $27,000. Prudent Man Investment Management Inc. bought a new position in PPG Industries in the 4th quarter valued at $36,000. Albion Financial Group UT bought a new position in shares of PPG Industries during the 4th quarter worth $38,000. Crews Bank & Trust bought a new position in PPG Industries in the 4th quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC purchased a new position in PPG Industries in the 4th quarter worth approximately $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

NYSE PPG traded down $1.53 during trading hours on Tuesday, hitting $108.69. 1,270,732 shares of the company's stock traded hands, compared to its average volume of 1,794,359. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The business's fifty day moving average price is $106.87 and its two-hundred day moving average price is $116.04. The firm has a market capitalization of $24.67 billion, a P/E ratio of 22.98, a P/E/G ratio of 2.19 and a beta of 1.20. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data 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. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.67 billion. During the same period last year, the business posted $1.87 earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Monday, May 12th. PPG Industries's dividend payout ratio is currently 58.24%.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on PPG shares. Argus lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Citigroup lowered their target price on shares of PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. UBS Group upped their target price on PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Mizuho dropped their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Finally, Wells Fargo & Company increased their target price on shares of PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $128.83.

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.