DekaBank Deutsche Girozentrale Increases Position in PPG Industries, Inc. (NYSE:PPG)
DekaBank Deutsche Girozentrale raised its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 11.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,729 shares of the specialty chemicals company’s stock after buying an additional 14,693 shares during the period. DekaBank Deutsche Girozentrale’s holdings in PPG Industries were worth $15,321,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in PPG. Harbour Capital Advisors LLC increased its stake in shares of PPG Industries by 10,896.0% in the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 10,896 shares during the last quarter. Baystate Wealth Management LLC increased its stake in shares of PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 40 shares during the last quarter. V Wealth Management LLC purchased a new stake in shares of PPG Industries during the second quarter worth about $112,000. State of Alaska Department of Revenue purchased a new stake in shares of PPG Industries during the second quarter worth about $113,000. Finally, Coconut Grove Bank increased its stake in shares of PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 71.81% of the company’s stock.
Shares of PPG Industries, Inc. (NYSE PPG) opened at 100.73 on Friday. The stock has a 50 day moving average of $108.24 and a 200 day moving average of $106.17. The company has a market cap of $25.84 billion, a price-to-earnings ratio of 26.50 and a beta of 1.54. PPG Industries, Inc. has a 1-year low of $89.64 and a 1-year high of $113.67.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.83. The firm had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 earnings per share. Analysts predict that PPG Industries, Inc. will post $6.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, August 8th. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s dividend payout ratio is currently 46.88%.
TRADEMARK VIOLATION WARNING: This piece of content was first reported by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/08/13/dekabank-deutsche-girozentrale-increases-position-in-ppg-industries-inc-nyseppg.html.
A number of equities research analysts have recently weighed in on PPG shares. Jefferies Group LLC restated a “buy” rating and issued a $120.00 price target (up from $113.00) on shares of PPG Industries in a research note on Tuesday, April 18th. Deutsche Bank AG restated a “hold” rating and issued a $110.00 price target (up from $102.00) on shares of PPG Industries in a research note on Sunday, April 23rd. Barclays PLC raised their price target on shares of PPG Industries from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, April 24th. TheStreet upgraded shares of PPG Industries from a “c+” rating to a “b+” rating in a research note on Monday, May 22nd. Finally, Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and raised their price target for the company from $110.61 to $136.00 in a research note on Wednesday, July 5th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $114.50.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG).
Receive News & Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.