Raiffeisen Bank International AG Purchases Shares of 3,942 PPG Industries, Inc. (NYSE:PPG)

Raiffeisen Bank International AG bought a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,942 shares of the specialty chemicals company's stock, valued at approximately $469,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of PPG Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after buying an additional 756,937 shares in the last quarter. Wellington Management Group LLP grew its stake in PPG Industries by 17.7% in the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after acquiring an additional 1,590,041 shares during the period. Geode Capital Management LLC increased its holdings in shares of PPG Industries by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock worth $660,752,000 after acquiring an additional 93,455 shares in the last quarter. Invesco Ltd. raised its position in shares of PPG Industries by 6.1% during the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock worth $564,596,000 after purchasing an additional 271,699 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of PPG Industries by 482.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock valued at $518,132,000 after purchasing an additional 3,592,655 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on PPG. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. The Goldman Sachs Group reduced their target price on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Finally, UBS Group lifted their price target on PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.42.

PPG Industries Stock Down 1.4%

NYSE:PPG traded down $1.56 on Friday, hitting $109.66. 294,537 shares of the company's stock were exchanged, compared to its average volume of 2,197,948. The firm has a 50-day moving average price of $106.44 and a 200-day moving average price of $114.86. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market cap of $24.89 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results 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 return on equity of 23.78% and a net margin of 6.41%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the business earned $1.87 earnings per share. PPG Industries's quarterly revenue was down 4.3% on a year-over-year basis. As a group, analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is 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.