Deutsche Bank AG Purchases 259,442 Shares of PPG Industries, Inc. (NYSE:PPG)

Deutsche Bank AG increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 24.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,341,354 shares of the specialty chemicals company’s stock after acquiring an additional 259,442 shares during the quarter. Deutsche Bank AG owned about 0.57% of PPG Industries worth $137,116,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of PPG Industries by 2.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,144,052 shares of the specialty chemicals company’s stock valued at $2,468,246,000 after purchasing an additional 643,315 shares during the last quarter. BlackRock Inc. raised its holdings in shares of PPG Industries by 1.1% in the fourth quarter. BlackRock Inc. now owns 14,628,186 shares of the specialty chemicals company’s stock valued at $1,495,440,000 after purchasing an additional 157,955 shares during the last quarter. Trian Fund Management L.P. raised its holdings in shares of PPG Industries by 69.2% in the fourth quarter. Trian Fund Management L.P. now owns 7,009,412 shares of the specialty chemicals company’s stock valued at $716,572,000 after purchasing an additional 2,866,150 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of PPG Industries by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 2,839,765 shares of the specialty chemicals company’s stock valued at $289,748,000 after purchasing an additional 153,809 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of PPG Industries by 10,003.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,810,405 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 2,782,589 shares during the last quarter. 79.73% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on PPG shares. JPMorgan Chase & Co. downgraded shares of PPG Industries from a “neutral” rating to an “underweight” rating and set a $106.00 price objective on the stock. in a report on Friday, March 22nd. SunTrust Banks boosted their target price on shares of PPG Industries to $110.00 and gave the stock a “hold” rating in a report on Tuesday, January 22nd. Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Credit Suisse Group lowered their target price on shares of PPG Industries to $112.00 and set a “neutral” rating on the stock in a report on Friday, January 18th. Finally, Buckingham Research boosted their target price on shares of PPG Industries from $108.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $118.11.

PPG stock traded down $0.98 during midday trading on Wednesday, reaching $116.64. 1,038,900 shares of the company were exchanged, compared to its average volume of 1,313,903. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.40 and a quick ratio of 0.96. PPG Industries, Inc. has a one year low of $94.37 and a one year high of $121.29. The stock has a market cap of $28.30 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.09 and a beta of 1.19.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.17. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.69 billion. PPG Industries had a net margin of 8.67% and a return on equity of 28.84%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.39 earnings per share. Research analysts anticipate that PPG Industries, Inc. will post 6.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be given a $0.48 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.65%. PPG Industries’s payout ratio is presently 32.43%.

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About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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