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

DekaBank Deutsche Girozentrale decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,061,312 shares of the specialty chemicals company’s stock after selling 80,883 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.47% of PPG Industries worth $119,430,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PPG. Brighton Jones LLC increased its stake in shares of PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after buying an additional 339 shares during the period. GAMMA Investing LLC increased its stake in shares of PPG Industries by 8.3% in the first quarter. GAMMA Investing LLC now owns 6,626 shares of the specialty chemicals company’s stock valued at $725,000 after buying an additional 505 shares during the period. Sowell Financial Services LLC acquired a new position in shares of PPG Industries in the first quarter valued at approximately $242,000. Blue Trust Inc. increased its stake in shares of PPG Industries by 63.1% in the first quarter. Blue Trust Inc. now owns 2,884 shares of the specialty chemicals company’s stock valued at $315,000 after buying an additional 1,116 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of PPG Industries by 33.7% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,723 shares of the specialty chemicals company’s stock valued at $735,000 after buying an additional 1,694 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG Industries stock opened at $102.16 on Tuesday. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.14 and a beta of 1.16. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $131.24. The stock’s 50 day moving average price is $107.41 and its two-hundred day moving average price is $108.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42.

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

PPG Industries Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group lowered their price objective on PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective for the company in a research note on Thursday, October 16th. Wells Fargo & Company lowered their price objective on PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Royal Bank Of Canada upped their target price on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $125.00.

PPG Industries Company 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.