MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases 98,474 Shares of PPG Industries, Inc. (NYSE:PPG)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 33.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 389,834 shares of the specialty chemicals company’s stock after acquiring an additional 98,474 shares during the period. PPG Industries comprises approximately 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s investment portfolio, making the stock its 22nd biggest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in PPG Industries were worth $51,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of PPG Industries by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after purchasing an additional 368,410 shares during the last quarter. Boston Partners lifted its stake in shares of PPG Industries by 4.9% in the 1st quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock valued at $248,172,000 after purchasing an additional 80,710 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of PPG Industries by 12.2% in the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock valued at $176,751,000 after purchasing an additional 152,719 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of PPG Industries by 9.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock valued at $162,862,000 after purchasing an additional 100,391 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Trading Up 0.7 %

Shares of NYSE:PPG opened at $128.25 on Monday. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The business’s fifty day simple moving average is $126.09 and its 200-day simple moving average is $129.47. The company has a market capitalization of $30.07 billion, a PE ratio of 21.66, a P/E/G ratio of 1.72 and a beta of 1.26. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period last year, the business posted $2.25 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts predict that PPG Industries, Inc. will post 8.24 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PPG. Citigroup lowered their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. KeyCorp lowered their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. UBS Group raised their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. BMO Capital Markets reduced their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, Royal Bank of Canada reduced their price target on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

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.