Raiffeisen Bank International AG Takes $469,000 Position in PPG Industries, Inc. (NYSE:PPG)

Raiffeisen Bank International AG acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 3,942 shares of the specialty chemicals company’s stock, valued at approximately $469,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PUREfi Wealth LLC purchased a new position in PPG Industries during the fourth quarter worth $279,000. Vanguard Group Inc. boosted its holdings in PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the last quarter. Avanza Fonder AB acquired a new position in PPG Industries in the fourth quarter valued at $2,944,000. Lebenthal Global Advisors LLC acquired a new position in PPG Industries in the fourth quarter valued at $409,000. Finally, Union Bancaire Privee UBP SA acquired a new position in PPG Industries in the fourth quarter valued at $2,543,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Trading Up 0.8%

NYSE:PPG opened at $113.99 on Friday. 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, Inc. has a one year low of $90.24 and a one year high of $137.24. The business’s 50-day simple moving average is $106.44 and its 200 day simple moving average is $115.13. The stock has a market cap of $25.88 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

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

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.39%. The ex-dividend date is Monday, May 12th. PPG Industries’s dividend payout ratio is currently 58.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Fermium Researc upgraded PPG Industries to a “strong-buy” rating in a report on Thursday, May 1st. The Goldman Sachs Group reduced their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Argus cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Citigroup reduced their price objective on PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays restated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price of $128.42.

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.