M.E. Allison & CO. Inc. Makes New $247,000 Investment in PPG Industries, Inc. (NYSE:PPG)

M.E. Allison & CO. Inc. acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,065 shares of the specialty chemicals company’s stock, valued at approximately $247,000.

Other large investors have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its position in shares of PPG Industries by 5.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 21,987 shares of the specialty chemicals company’s stock valued at $2,954,000 after acquiring an additional 1,105 shares during the period. Blair William & Co. IL grew its holdings in shares of PPG Industries by 4.8% during the second quarter. Blair William & Co. IL now owns 36,127 shares of the specialty chemicals company’s stock worth $4,548,000 after buying an additional 1,657 shares in the last quarter. Intech Investment Management LLC raised its position in shares of PPG Industries by 1,245.7% in the second quarter. Intech Investment Management LLC now owns 53,679 shares of the specialty chemicals company’s stock valued at $6,758,000 after buying an additional 49,690 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in PPG Industries by 24.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,048 shares of the specialty chemicals company’s stock worth $1,895,000 after acquiring an additional 2,982 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in PPG Industries by 6.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 542,761 shares of the specialty chemicals company’s stock valued at $68,328,000 after acquiring an additional 30,911 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of analyst reports. Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada lowered their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.23.

PPG Industries Stock Performance

NYSE PPG opened at $120.14 on Monday. The stock has a market capitalization of $27.87 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.77 and a beta of 1.24. The business’s 50 day moving average is $121.26 and its two-hundred day moving average is $124.80. PPG Industries, Inc. has a 12-month low of $113.00 and a 12-month high of $145.86. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Insider Transactions at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

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.