Commerzbank Aktiengesellschaft FI Increases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Commerzbank Aktiengesellschaft FI grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 74.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,389 shares of the specialty chemicals company's stock after buying an additional 3,152 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in PPG Industries were worth $808,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its holdings in PPG Industries by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock worth $27,311,000 after purchasing an additional 1,697 shares during the last quarter. Clear Creek Financial Management LLC purchased a new position in PPG Industries during the first quarter worth about $240,000. Vanguard Group Inc. boosted its holdings in PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after purchasing an additional 756,937 shares during the last quarter. Principal Financial Group Inc. boosted its stake in PPG Industries by 4.4% in the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock valued at $33,129,000 after acquiring an additional 12,650 shares during the last quarter. Finally, Bell Asset Management Ltd purchased a new position in PPG Industries in the fourth quarter valued at about $6,955,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PPG has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their target price on shares of PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Wells Fargo & Company boosted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. UBS Group boosted their target price on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of "Moderate Buy" and a consensus price target of $131.42.

PPG Industries Trading Down 1.3%

Shares of PPG Industries stock traded down $1.51 during trading on Friday, reaching $114.51. The company's stock had a trading volume of 5,187,043 shares, compared to its average volume of 1,866,134. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The company has a market cap of $25.99 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.43 and a beta of 1.16. The firm's 50-day moving average is $113.07 and its two-hundred day moving average is $112.07. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79.

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, beating analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The company had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter in the prior year, the company earned $1.87 EPS. The firm's revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be paid a $0.71 dividend. This is a boost from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date is Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.48%. PPG Industries's dividend payout ratio is 58.24%.

PPG Industries 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.