Bank of Montreal Can Has $46.67 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Bank of Montreal Can grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 346,860 shares of the specialty chemicals company’s stock after acquiring an additional 41,167 shares during the period. Bank of Montreal Can owned 0.15% of PPG Industries worth $46,673,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Financial Connections Group Inc. acquired a new stake in PPG Industries during the second quarter worth approximately $25,000. Capital Performance Advisors LLP acquired a new stake in PPG Industries during the third quarter worth approximately $34,000. Rothschild Investment LLC acquired a new stake in PPG Industries during the second quarter worth approximately $37,000. Hara Capital LLC acquired a new stake in shares of PPG Industries in the third quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of PPG Industries in the third quarter valued at approximately $46,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PPG. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. JPMorgan Chase & Co. dropped their price target 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. Royal Bank of Canada dropped their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Mizuho dropped their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Performance

NYSE PPG opened at $123.41 on Thursday. The firm’s fifty day moving average price is $126.80 and its two-hundred day moving average price is $127.22. The stock has a market cap of $28.63 billion, a PE ratio of 19.56, a PEG ratio of 1.92 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

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

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.20%. PPG Industries’s dividend payout ratio (DPR) is presently 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 on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by company 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.