PPG Industries, Inc. (NYSE:PPG) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

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 Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,369 shares of the specialty chemicals company’s stock after selling 225,446 shares during the quarter. 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 filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPG. Prudent Man Investment Management Inc. bought a new position in shares of PPG Industries during the fourth quarter worth about $36,000. Albion Financial Group UT bought a new position in PPG Industries during the fourth quarter worth $38,000. Crews Bank & Trust acquired a new position in PPG Industries in the fourth quarter worth $42,000. Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth $44,000. Finally, Millstone Evans Group LLC bought a new position in shares of PPG Industries in the 4th quarter worth about $46,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup reduced their price objective on PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Bank of America reiterated a “neutral” rating and set a $126.00 price objective (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Mizuho reduced their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Fermium Researc upgraded shares of PPG Industries to a “strong-buy” rating in a research note on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.83.

PPG Industries Price Performance

NYSE PPG opened at $109.32 on Friday. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The business’s fifty day moving average is $106.58 and its two-hundred day moving average is $115.59. The stock 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 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 (NYSE:PPG) last announced its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. PPG Industries’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.87 earnings per share. On average, research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries’s dividend payout ratio (DPR) is currently 58.24%.

Insider Activity

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on 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 directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

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.