Deutsche Bank AG Increases Holdings in PPG Industries, Inc. (NYSE:PPG)

Key Points

• Deutsche Bank AG increased its stake in PPG Industries by 17.9% in the 1st quarter, now holding approximately $130.14 million worth of shares.
• Analysts have a current average rating of "Moderate Buy" on PPG Industries, with price targets ranging from $111.00 to $135.00.
• PPG Industries announced a new quarterly dividend of $0.71 per share, increasing from the previous $0.68, reflecting a 2.7% dividend yield.

Deutsche Bank AG lifted its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,190,132 shares of the specialty chemicals company's stock after purchasing an additional 181,076 shares during the quarter. Deutsche Bank AG owned about 0.52% of PPG Industries worth $130,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new position in PPG Industries during the fourth quarter worth approximately $26,000. Cheviot Value Management LLC acquired a new position in shares of PPG Industries during the 1st quarter worth about $26,000. CVA Family Office LLC lifted its stake in PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 113 shares in the last quarter. Financial Connections Group Inc. boosted its holdings in PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 150 shares during the last quarter. Finally, Beacon Capital Management LLC increased its stake in PPG Industries by 37.1% during the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock worth $41,000 after buying an additional 101 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Trading Up 3.5%

NYSE PPG traded up $3.79 during trading on Wednesday, hitting $112.54. The stock had a trading volume of 2,034,978 shares, compared to its average volume of 2,088,790. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $25.40 billion, a PE ratio of 25.52, a PEG ratio of 2.20 and a beta of 1.17. The firm has a 50 day moving average price of $112.43 and a 200 day moving average price of $111.01. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the prior year, the business earned $2.50 EPS. The firm's quarterly revenue was down .9% on a year-over-year basis. As a group, equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.71 per share. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date is Monday, August 11th. This represents a $2.84 annualized dividend and a yield of 2.5%. PPG Industries's dividend payout ratio (DPR) is currently 64.40%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PPG. Royal Bank Of Canada boosted their price target on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Mizuho upped their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Wells Fargo & Company raised their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Bank of America reissued a "neutral" rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Finally, Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $129.82.

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.