Brooklyn Investment Group Purchases New Holdings in PPG Industries, Inc. (NYSE:PPG)

Brooklyn Investment Group purchased a new stake in PPG Industries, Inc. (NYSE:PPG) during the third quarter, HoldingsChannel.com reports. The firm purchased 599 shares of the specialty chemicals company’s stock, valued at approximately $79,000.

A number of other institutional investors and hedge funds have also modified their holdings of PPG. Financial Connections Group Inc. purchased a new stake in shares of PPG Industries during the 2nd quarter valued at $25,000. Capital Performance Advisors LLP bought a new stake in PPG Industries during the third quarter valued at $34,000. Rothschild Investment LLC acquired a new stake in shares of PPG Industries during the 2nd quarter worth approximately $37,000. Hara Capital LLC bought a new stake in shares of PPG Industries during the third quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in PPG Industries during the 3rd quarter valued at about $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is currently owned by company insiders.

PPG Industries Stock Performance

PPG opened at $123.45 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $126.69 and its 200 day moving average is $127.20. The company has a market cap of $28.64 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.92 and a beta of 1.26. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 earnings per share. On average, equities research analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. PPG Industries’s dividend payout ratio is currently 43.11%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PPG shares. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Mizuho dropped their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada reduced their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

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.