Milestone Asset Management LLC Makes New $704,000 Investment in PPG Industries, Inc. (NYSE:PPG)

Milestone Asset Management LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 5,893 shares of the specialty chemicals company’s stock, valued at approximately $704,000.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp increased its holdings in shares of PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after buying an additional 491,774 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after purchasing an additional 485,597 shares in the last quarter. Franklin Resources Inc. lifted its position in PPG Industries by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock valued at $403,049,000 after acquiring an additional 170,339 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in PPG Industries by 0.6% in 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 acquiring an additional 15,161 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in PPG Industries by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock valued at $248,650,000 after acquiring an additional 36,047 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG opened at $122.46 on Thursday. The company has a market capitalization 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 quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $121.23 and a 200-day moving average price of $124.59. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve month high of $145.60.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 annualized dividend and a dividend yield of 2.22%. PPG Industries’s payout ratio is 43.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PPG shares. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, Mizuho cut their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average price target of $149.23.

PPG Industries Company 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.