DekaBank Deutsche Girozentrale Has $140.28 Million Stake in PPG Industries, Inc. (NYSE:PPG)

DekaBank Deutsche Girozentrale boosted its position in PPG Industries, Inc. (NYSE:PPG) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Several other large investors have also recently bought and sold shares of the company. Forsta AP Fonden increased its stake in shares of PPG Industries by 10.8% in the third quarter. Forsta AP Fonden now owns 106,400 shares of the specialty chemicals company’s stock valued at $14,094,000 after buying an additional 10,400 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in PPG Industries by 20.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,457 shares of the specialty chemicals company’s stock worth $3,291,000 after acquiring an additional 4,212 shares during the last quarter. Parcion Private Wealth LLC acquired a new position in PPG Industries in the 3rd quarter valued at approximately $296,000. Ballentine Partners LLC raised its stake in shares of PPG Industries by 5.2% during the third quarter. Ballentine Partners LLC now owns 6,509 shares of the specialty chemicals company’s stock valued at $862,000 after acquiring an additional 322 shares during the last quarter. Finally, Heritage Oak Wealth Advisors LLC bought a new stake in shares of PPG Industries in the third quarter worth $208,000. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PPG has been the subject of several analyst reports. KeyCorp cut their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Barclays decreased 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 report on Monday, July 22nd. Citigroup dropped their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. 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. Finally, UBS Group upped their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $126.45 on Friday. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The stock’s 50 day moving average is $127.87 and its 200-day moving average is $128.63. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $29.65 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 1.94 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the company posted $2.07 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Sell-side analysts forecast that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date 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 currently 45.95%.

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.