Longfellow Investment Management Co. LLC Takes $469,000 Position in PPG Industries, Inc. (NYSE:PPG)

Longfellow Investment Management Co. LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) in the third quarter, HoldingsChannel reports. The fund bought 3,539 shares of the specialty chemicals company’s stock, valued at approximately $469,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirabella Financial Services LLP lifted its position in shares of PPG Industries by 92.0% during the 3rd quarter. Mirabella Financial Services LLP now owns 10,556 shares of the specialty chemicals company’s stock valued at $1,398,000 after buying an additional 5,059 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of PPG Industries during the 3rd quarter worth approximately $194,000. Independent Advisor Alliance lifted its position in PPG Industries by 4.5% during the third quarter. Independent Advisor Alliance now owns 9,702 shares of the specialty chemicals company’s stock valued at $1,285,000 after purchasing an additional 417 shares during the last quarter. Douglass Winthrop Advisors LLC purchased a new position in PPG Industries in the third quarter worth about $549,000. Finally, Daiwa Securities Group Inc. increased its position in shares of PPG Industries by 30.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 37,292 shares of the specialty chemicals company’s stock valued at $4,940,000 after purchasing an additional 8,670 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Down 0.0 %

NYSE PPG opened at $122.65 on Monday. 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 company has a market capitalization of $28.45 billion, a PE ratio of 19.44, a P/E/G ratio of 1.88 and a beta of 1.26. The company has a fifty day moving average of $127.00 and a 200 day moving average of $127.40.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share 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 analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.07 EPS. Research analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank of Canada dropped their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Mizuho lowered their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. decreased their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is currently owned by company 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.