Millstone Evans Group LLC Invests $46,000 in PPG Industries, Inc. (NYSE:PPG)

Millstone Evans Group LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 384 shares of the specialty chemicals company’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after purchasing an additional 491,774 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after buying an additional 485,597 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of PPG Industries by 138.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock valued at $381,876,000 after buying an additional 1,858,895 shares during the last quarter. Franklin Resources Inc. lifted its position in PPG Industries by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after buying an additional 170,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in PPG Industries by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company’s stock worth $316,349,000 after acquiring an additional 76,626 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PPG. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Wells Fargo & Company reduced their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Citigroup lowered their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, Mizuho decreased their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $138.15.

PPG Industries Stock Down 0.5 %

Shares of NYSE:PPG opened at $110.75 on Monday. 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, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61. The company has a 50 day moving average price of $116.09 and a two-hundred day moving average price of $121.70. The company has a market capitalization of $25.14 billion, a PE ratio of 23.42, a PEG ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.46%. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

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.