DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Has $1.72 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 94.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,369 shares of the specialty chemicals company’s stock after selling 225,446 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in PPG Industries were worth $1,716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Barclays PLC grew its stake in PPG Industries by 21.0% in the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock valued at $151,276,000 after purchasing an additional 198,353 shares in the last quarter. Nordea Investment Management AB increased its holdings in PPG Industries by 3.7% in the fourth quarter. Nordea Investment Management AB now owns 19,411 shares of the specialty chemicals company’s stock worth $2,328,000 after buying an additional 687 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in PPG Industries by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 62,296 shares of the specialty chemicals company’s stock worth $8,252,000 after buying an additional 1,037 shares during the last quarter. Czech National Bank raised its position in PPG Industries by 5.8% during the fourth quarter. Czech National Bank now owns 50,303 shares of the specialty chemicals company’s stock valued at $6,009,000 after acquiring an additional 2,778 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in PPG Industries by 10.1% in the fourth quarter. Wedmont Private Capital now owns 2,488 shares of the specialty chemicals company’s stock valued at $282,000 after acquiring an additional 229 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of PPG Industries from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Fermium Researc raised PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. Mizuho lowered their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Barclays reiterated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.83.

PPG Industries Stock Performance

PPG Industries stock opened at $109.32 on Friday. The firm has a market capitalization of $24.82 billion, a P/E ratio of 23.11, a P/E/G ratio of 2.19 and a beta of 1.20. The stock has a fifty day moving average price of $106.58 and a two-hundred day moving average price of $115.59. 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.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.87 EPS. As a group, analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.49%. PPG Industries’s dividend payout ratio is 58.24%.

PPG Industries 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.