MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases New Stake in PPG Industries, Inc. (NYSE:PPG)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in PPG Industries, Inc. (NYSE:PPG) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 214,168 shares of the specialty chemicals company’s stock, valued at approximately $31,033,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned approximately 0.09% of PPG Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Applied Capital LLC FL grew its stake in PPG Industries by 1.3% in the 1st quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after acquiring an additional 82 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of PPG Industries by 1.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,230 shares of the specialty chemicals company’s stock valued at $2,207,000 after purchasing an additional 276 shares during the period. BKM Wealth Management LLC grew its position in shares of PPG Industries by 21.6% in the first quarter. BKM Wealth Management LLC now owns 4,349 shares of the specialty chemicals company’s stock valued at $630,000 after purchasing an additional 773 shares during the period. LVW Advisors LLC acquired a new position in PPG Industries in the first quarter valued at $233,000. Finally, Cornerstone Wealth Group LLC acquired a new stake in PPG Industries in the 1st quarter worth about $2,959,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of NYSE PPG traded up $0.90 during midday trading on Tuesday, hitting $124.88. 1,284,064 shares of the company’s stock were exchanged, compared to its average volume of 1,668,985. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08. The firm has a market cap of $29.28 billion, a P/E ratio of 21.09, a PEG ratio of 1.56 and a beta of 1.26. The stock’s 50 day moving average price is $130.62 and its 200-day moving average price is $138.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.86. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.82 earnings per share. Equities research analysts anticipate that PPG Industries, Inc. will post 8.44 EPS for the current year.

PPG Industries declared that its board has initiated a share repurchase program on Thursday, April 18th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish purchased 2,061 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average cost of $133.24 per share, with a total value of $274,607.64. Following the purchase, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,774,388.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. BMO Capital Markets lowered their target price on PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, April 23rd. KeyCorp cut their price target on PPG Industries from $164.00 to $162.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. UBS Group decreased their target price on PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Evercore ISI cut PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective on the stock. in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.47.

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.