Milestone Asset Management LLC Takes $704,000 Position in PPG Industries, Inc. (NYSE:PPG)

Milestone Asset Management LLC bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,893 shares of the specialty chemicals company’s stock, valued at approximately $704,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PFW Advisors LLC bought a new position in shares of PPG Industries during the 4th quarter valued at approximately $868,000. Equity Investment Corp increased its stake in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after purchasing an additional 42,380 shares during the period. Ritholtz Wealth Management purchased a new stake in PPG Industries in the third quarter worth $604,000. JGP Wealth Management LLC purchased a new stake in PPG Industries in the fourth quarter worth $4,050,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in PPG Industries by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after buying an additional 15,161 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Citigroup decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut their target price 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 cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.23.

PPG Industries Trading Down 0.4 %

Shares of PPG Industries stock opened at $122.46 on Thursday. The stock has a market cap of $28.41 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.93 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $113.00 and a 12-month high of $145.60. The company has a fifty day simple moving average of $121.23 and a 200-day simple moving average of $124.59.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio is presently 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.