Brookstone Capital Management Reduces Stock Position in PPG Industries, Inc. (NYSE:PPG)

Brookstone Capital Management lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,310 shares of the specialty chemicals company’s stock after selling 102 shares during the quarter. Brookstone Capital Management’s holdings in PPG Industries were worth $395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Czech National Bank boosted its holdings in PPG Industries by 5.8% in the fourth quarter. Czech National Bank now owns 50,303 shares of the specialty chemicals company’s stock worth $6,009,000 after purchasing an additional 2,778 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in PPG Industries by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 62,296 shares of the specialty chemicals company’s stock worth $8,252,000 after acquiring an additional 1,037 shares during the period. Legend Financial Advisors Inc. bought a new position in PPG Industries in the fourth quarter worth approximately $27,000. Nordea Investment Management AB raised its position in PPG Industries by 3.7% in the fourth quarter. Nordea Investment Management AB now owns 19,411 shares of the specialty chemicals company’s stock worth $2,328,000 after acquiring an additional 687 shares during the period. Finally, GAMMA Investing LLC raised its position in PPG Industries by 8.9% in the fourth quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company’s stock worth $731,000 after acquiring an additional 498 shares during the period. Hedge funds and other institutional investors 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 completion of the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PPG shares. JPMorgan Chase & Co. decreased their price target 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. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Citigroup decreased their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and an average target price of $149.29.

PPG Industries Stock Performance

PPG opened at $120.14 on Friday. The stock has a market capitalization of $27.87 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.77 and a beta of 1.24. The company has a fifty day moving average of $121.26 and a 200 day moving average of $124.80. PPG Industries, Inc. has a fifty-two week low of $113.00 and a fifty-two week high of $145.86. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 earnings per share. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 8.15 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.26%. PPG Industries’s payout ratio is currently 43.11%.

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.