PPG Industries, Inc. (NYSE:PPG) Shares Bought by Brookstone Capital Management

Brookstone Capital Management grew its stake in shares of PPG Industries, Inc. (NYSE:PPGGet Rating) by 2.4% during the second quarter, HoldingsChannel reports. The firm owned 5,316 shares of the specialty chemicals company’s stock after buying an additional 127 shares during the period. Brookstone Capital Management’s holdings in PPG Industries were worth $627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Savant Capital LLC lifted its stake in shares of PPG Industries by 1.5% in the first quarter. Savant Capital LLC now owns 4,861 shares of the specialty chemicals company’s stock worth $637,000 after acquiring an additional 74 shares in the last quarter. Rockbridge Investment Management LCC lifted its stake in shares of PPG Industries by 83.0% in the fourth quarter. Rockbridge Investment Management LCC now owns 183 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 83 shares in the last quarter. Orca Investment Management LLC lifted its stake in shares of PPG Industries by 3.5% in the first quarter. Orca Investment Management LLC now owns 2,535 shares of the specialty chemicals company’s stock worth $332,000 after acquiring an additional 85 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of PPG Industries by 45.8% in the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 87 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its stake in shares of PPG Industries by 5.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 1,577 shares of the specialty chemicals company’s stock worth $207,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PPG. Credit Suisse Group cut their price target on PPG Industries to $110.00 in a research note on Friday, July 22nd. Bank of America cut their price objective on PPG Industries from $172.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Wells Fargo & Company cut their price objective on PPG Industries from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Friday, September 16th. UBS Group cut their price objective on PPG Industries to $160.00 in a research note on Friday, July 22nd. Finally, Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a research note on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, PPG Industries currently has an average rating of “Hold” and an average price target of $155.41.

PPG Industries Stock Performance

Shares of PPG stock opened at $111.92 on Friday. PPG Industries, Inc. has a 12-month low of $107.06 and a 12-month high of $177.32. The firm has a market capitalization of $26.30 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.40 and a beta of 1.16. The business has a 50 day simple moving average of $126.18 and a 200 day simple moving average of $125.13. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.50 and a quick ratio of 1.02.

PPG Industries (NYSE:PPGGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The specialty chemicals company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.06. PPG Industries had a return on equity of 22.97% and a net margin of 6.20%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.75 billion. On average, equities research analysts anticipate that PPG Industries, Inc. will post 6.73 EPS for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 10th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.22%. This is an increase from PPG Industries’s previous quarterly dividend of $0.59. The ex-dividend date was Tuesday, August 9th. PPG Industries’s dividend payout ratio is 54.39%.

About PPG Industries

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

Further Reading

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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