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

DekaBank Deutsche Girozentrale increased its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 10.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,061,312 shares of the specialty chemicals company's stock after purchasing an additional 98,941 shares during the period. DekaBank Deutsche Girozentrale owned 0.45% of PPG Industries worth $140,276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors 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 about $25,000. Rothschild Investment LLC purchased a new position in PPG Industries during the second quarter worth about $37,000. LRI Investments LLC boosted its stake in PPG Industries by 463.8% during the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company's stock worth $49,000 after buying an additional 320 shares during the period. Slocum Gordon & Co LLP boosted its stake in PPG Industries by 51.7% during the second quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company's stock worth $57,000 after buying an additional 155 shares during the period. Finally, DiNuzzo Private Wealth Inc. boosted its stake in PPG Industries by 103.6% during the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company's stock worth $58,000 after buying an additional 203 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.6 %

PPG stock traded down $0.79 during midday trading on Friday, reaching $126.45. 853,010 shares of the company were exchanged, compared to its average volume of 1,591,610. 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, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The stock's 50-day simple moving average is $127.87 and its 200 day simple moving average is $128.56. The company has a market cap of $29.65 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data 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). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same quarter last year, the business earned $2.07 earnings per share. The business's quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts forecast that PPG Industries, Inc. will post 8.19 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.15%. PPG Industries's dividend payout ratio (DPR) is 45.95%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank of Canada lowered their target price on shares of PPG Industries from $138.00 to $136.00 and set a "sector perform" rating for the company in a research note on Tuesday, October 22nd. Barclays lowered their target price on shares of PPG Industries from $148.00 to $144.00 and set an "equal weight" rating for the company in a research note on Monday, July 22nd. Citigroup lowered their target price on shares of PPG Industries from $145.00 to $144.00 and set a "buy" rating for the company in a research note on Monday, July 22nd. KeyCorp lowered their target price on shares of PPG Industries from $162.00 to $153.00 and set an "overweight" rating for the company in a research note on Monday, July 22nd. Finally, UBS Group raised their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, PPG Industries presently has an average rating of "Moderate Buy" and an average price target of $149.93.

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.