PPG Industries, Inc. (PPG) Shares Bought by CIBC World Markets Inc.

CIBC World Markets Inc. raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 30.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,594 shares of the specialty chemicals company’s stock after acquiring an additional 3,627 shares during the period. CIBC World Markets Inc.’s holdings in PPG Industries were worth $1,702,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Cornerstone Wealth Management LLC acquired a new position in PPG Industries in the second quarter valued at about $105,000. Raymond James Financial Services Advisors Inc. lifted its position in PPG Industries by 3.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 59,708 shares of the specialty chemicals company’s stock valued at $6,194,000 after buying an additional 2,247 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in PPG Industries by 6.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 797,162 shares of the specialty chemicals company’s stock valued at $82,690,000 after buying an additional 51,380 shares during the last quarter. Comerica Bank lifted its position in PPG Industries by 10.6% in the second quarter. Comerica Bank now owns 137,428 shares of the specialty chemicals company’s stock valued at $14,486,000 after buying an additional 13,150 shares during the last quarter. Finally, Smith Asset Management Group LP lifted its position in PPG Industries by 2.0% in the second quarter. Smith Asset Management Group LP now owns 70,241 shares of the specialty chemicals company’s stock valued at $7,286,000 after buying an additional 1,370 shares during the last quarter. Institutional investors own 78.05% of the company’s stock.

Shares of PPG opened at $109.33 on Friday. The stock has a market cap of $26.02 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 2.24 and a beta of 1.36. PPG Industries, Inc. has a 1 year low of $94.37 and a 1 year high of $122.07. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.71.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.45. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.81 billion. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 earnings per share. As a group, analysts predict that PPG Industries, Inc. will post 5.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Monday, November 12th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.76%. PPG Industries’s dividend payout ratio is presently 32.71%.

PPG has been the topic of a number of recent analyst reports. ValuEngine cut shares of PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. BMO Capital Markets decreased their target price on shares of PPG Industries from $116.00 to $107.00 and set a “hold” rating on the stock in a research report on Friday, October 19th. Goldman Sachs Group raised shares of PPG Industries from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 29th. Northcoast Research set a $114.00 price target on shares of PPG Industries and gave the stock a “buy” rating in a research report on Tuesday, October 9th. Finally, KeyCorp reduced their price target on shares of PPG Industries from $128.00 to $119.00 and set an “overweight” rating on the stock in a research report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $119.00.

ILLEGAL ACTIVITY WARNING: “PPG Industries, Inc. (PPG) Shares Bought by CIBC World Markets Inc.” was first posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://www.com-unik.info/2018/12/02/ppg-industries-inc-ppg-shares-bought-by-cibc-world-markets-inc.html.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

Featured Story: What are trading strategies for the 52-week high/low?

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit