DekaBank Deutsche Girozentrale Increases Stake in PPG Industries, Inc. (NYSE:PPG)

DekaBank Deutsche Girozentrale raised its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,142,195 shares of the specialty chemicals company's stock after buying an additional 80,883 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.50% of PPG Industries worth $119,462,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PPG. Vanguard Group Inc. lifted its holdings in shares of PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after purchasing an additional 756,937 shares in the last quarter. Clear Creek Financial Management LLC bought a new stake in PPG Industries during the first quarter worth about $240,000. Bell Asset Management Ltd bought a new position in PPG Industries in the fourth quarter valued at approximately $6,955,000. Wealthfront Advisers LLC raised its stake in shares of PPG Industries by 256.2% during the 4th quarter. Wealthfront Advisers LLC now owns 23,761 shares of the specialty chemicals company's stock worth $2,838,000 after purchasing an additional 17,090 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of PPG Industries in the 4th quarter valued at approximately $82,071,000. Institutional investors own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised 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 lifted their price target on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday. Fermium Researc raised PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada raised 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 report on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $131.83.

PPG Industries Stock Up 0.2%

Shares of PPG stock traded up $0.18 on Wednesday, hitting $117.59. The stock had a trading volume of 288,271 shares, compared to its average volume of 1,851,887. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. The business has a 50 day moving average of $111.98 and a 200 day moving average of $112.19. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.99.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.10. The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The business's revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.87 earnings per share. As a group, analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries's dividend payout ratio is currently 58.24%.

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.