DekaBank Deutsche Girozentrale Has $119.43 Million Stake in PPG Industries, Inc. $PPG

DekaBank Deutsche Girozentrale trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 7.1% during the second quarter, Holdings Channel.com reports. The firm owned 1,061,312 shares of the specialty chemicals company’s stock after selling 80,883 shares during the period. DekaBank Deutsche Girozentrale’s holdings in PPG Industries were worth $119,430,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its position in shares of PPG Industries by 16.2% during the second quarter. Chicago Partners Investment Group LLC now owns 2,343 shares of the specialty chemicals company’s stock worth $273,000 after purchasing an additional 326 shares during the period. Gladwyn Financial Advisors Inc. purchased a new stake in PPG Industries in the 2nd quarter valued at $31,000. VELA Investment Management LLC purchased a new stake in PPG Industries in the 2nd quarter valued at $518,000. Applied Finance Capital Management LLC raised its position in PPG Industries by 2.1% in the 2nd quarter. Applied Finance Capital Management LLC now owns 5,821 shares of the specialty chemicals company’s stock valued at $662,000 after buying an additional 121 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in PPG Industries by 4.8% in the 2nd quarter. Nordea Investment Management AB now owns 20,416 shares of the specialty chemicals company’s stock valued at $2,324,000 after buying an additional 938 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Up 0.6%

Shares of NYSE:PPG opened at $102.16 on Tuesday. The company has a market capitalization of $23.06 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.14 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The business has a fifty day moving average price of $107.41 and a two-hundred day moving average price of $108.81. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $131.24.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. PPG Industries’s dividend payout ratio is presently 64.40%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup lowered their price target on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Mizuho lowered their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price target for the company in a research report on Thursday, October 16th. UBS Group lowered their price target on PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Finally, Royal Bank Of Canada upped their price objective on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.00.

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.