Brooklyn FI LLC Takes Position in PPG Industries, Inc. (NYSE:PPG)

Brooklyn FI LLC acquired a new position in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,820 shares of the specialty chemicals company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. OneDigital Investment Advisors LLC boosted its stake in PPG Industries by 13.0% during the third quarter. OneDigital Investment Advisors LLC now owns 5,895 shares of the specialty chemicals company’s stock worth $781,000 after buying an additional 677 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of PPG Industries by 4.4% in the 3rd quarter. Empowered Funds LLC now owns 20,541 shares of the specialty chemicals company’s stock valued at $2,721,000 after purchasing an additional 868 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of PPG Industries by 57.8% in the third quarter. Natixis Advisors LLC now owns 137,372 shares of the specialty chemicals company’s stock valued at $18,196,000 after buying an additional 50,326 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of PPG Industries by 9.1% in the third quarter. Thrivent Financial for Lutherans now owns 26,493 shares of the specialty chemicals company’s stock valued at $3,509,000 after buying an additional 2,202 shares during the last quarter. Finally, MAI Capital Management raised its holdings in shares of PPG Industries by 88.7% in the third quarter. MAI Capital Management now owns 6,319 shares of the specialty chemicals company’s stock valued at $837,000 after buying an additional 2,970 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

PPG has been the subject of several recent research reports. UBS Group dropped their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Wells Fargo & Company decreased their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group decreased their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada reduced their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, PPG Industries presently has an average rating of “Hold” and an average price target of $138.15.

PPG Industries Stock Down 0.4 %

PPG opened at $113.11 on Thursday. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a market capitalization of $25.67 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.19 and a beta of 1.22. The stock has a fifty day moving average of $116.23 and a 200-day moving average of $121.98.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

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.