Brooklyn Investment Group Invests $79,000 in PPG Industries, Inc. (NYSE:PPG)

Brooklyn Investment Group acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 599 shares of the specialty chemicals company’s stock, valued at approximately $79,000.

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

PPG Industries Stock Up 0.1 %

Shares of PPG Industries stock opened at $123.45 on Friday. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock 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. The firm’s 50-day moving average is $126.69 and its two-hundred day moving average is $127.20.

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

PPG Industries Dividend Announcement

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

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.