Toronto Dominion Bank Acquires 6,756 Shares of PPG Industries, Inc. (NYSE:PPG)

Toronto Dominion Bank increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 5.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,028 shares of the specialty chemicals company’s stock after buying an additional 6,756 shares during the period. Toronto Dominion Bank owned about 0.06% of PPG Industries worth $17,753,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of PPG. Wealth Enhancement Advisory Services LLC raised its stake in PPG Industries by 1.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 66,066 shares of the specialty chemicals company’s stock worth $8,317,000 after buying an additional 913 shares in the last quarter. Swedbank AB increased its position in shares of PPG Industries by 6.3% during the second quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company’s stock worth $19,986,000 after purchasing an additional 9,412 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of PPG Industries by 18.5% during the second quarter. Assenagon Asset Management S.A. now owns 122,759 shares of the specialty chemicals company’s stock worth $15,454,000 after purchasing an additional 19,189 shares in the last quarter. Blue Trust Inc. increased its position in shares of PPG Industries by 32.8% during the second quarter. Blue Trust Inc. now owns 2,484 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 614 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of PPG Industries by 3.6% during the second quarter. Nisa Investment Advisors LLC now owns 48,599 shares of the specialty chemicals company’s stock worth $6,118,000 after purchasing an additional 1,672 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Mizuho reduced their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. reduced their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada reduced their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Trading Up 1.2 %

PPG stock opened at $124.02 on Friday. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company’s 50-day simple moving average is $125.82 and its 200-day simple moving average is $126.62. The firm has a market cap of $28.77 billion, a P/E ratio of 19.65, a PEG ratio of 1.88 and a beta of 1.24.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $2.07 EPS. As a group, equities analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.19%. PPG Industries’s payout ratio is 43.11%.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by insiders.

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.