Deutsche Bank AG Trims Position in PPG Industries, Inc. (NYSE:PPG)

Deutsche Bank AG reduced its position in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 8.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 566,571 shares of the specialty chemicals company’s stock after selling 54,354 shares during the period. Deutsche Bank AG owned approximately 0.24% of PPG Industries worth $73,541,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in PPG Industries by 1.3% during the first quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock worth $2,645,019,000 after purchasing an additional 252,358 shares in the last quarter. Geode Capital Management LLC raised its holdings in PPG Industries by 2.5% during the second quarter. Geode Capital Management LLC now owns 4,977,031 shares of the specialty chemicals company’s stock worth $736,154,000 after purchasing an additional 122,139 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in PPG Industries by 163,082.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after purchasing an additional 4,155,341 shares in the last quarter. Invesco Ltd. raised its holdings in PPG Industries by 41.1% during the third quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after purchasing an additional 959,849 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PPG Industries by 2.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,193,621 shares of the specialty chemicals company’s stock worth $418,589,000 after buying an additional 65,996 shares during the period. 79.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Robert W. Baird restated an “outperform” rating and set a $150.00 target price on shares of PPG Industries in a research report on Friday, January 19th. Wells Fargo & Company upped their target price on shares of PPG Industries from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 9th. KeyCorp upped their target price on shares of PPG Industries from $166.00 to $167.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Vertical Research upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Barclays lowered shares of PPG Industries from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $163.00 to $149.00 in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and an average target price of $157.13.

Check Out Our Latest Analysis on PPG Industries

Insider Activity

In other news, CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

PPG Industries Stock Performance

NYSE:PPG opened at $138.96 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. The company has a market cap of $32.71 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.40 and a beta of 1.28. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The firm’s 50 day moving average is $141.99 and its two-hundred day moving average is $137.95.

PPG Industries (NYSE:PPGGet Free Report) last posted its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.04. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. PPG Industries’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 earnings per share. Analysts expect that PPG Industries, Inc. will post 8.45 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Thursday, February 15th. PPG Industries’s dividend payout ratio is presently 48.69%.

PPG Industries Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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