Milestone Asset Management LLC Buys New Position in PPG Industries, Inc. (NYSE:PPG)

Milestone Asset Management LLC bought a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,893 shares of the specialty chemicals company's stock, valued at approximately $704,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PPG. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries during the 4th quarter worth about $27,000. Pin Oak Investment Advisors Inc. lifted its position in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock valued at $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of PPG Industries during the 3rd quarter worth approximately $34,000. Hara Capital LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth approximately $40,000. Finally, Albion Financial Group UT bought a new stake in PPG Industries in the 4th quarter valued at $38,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

Shares of PPG Industries stock traded up $0.75 on Thursday, reaching $123.13. 1,310,182 shares of the stock were exchanged, compared to its average volume of 1,999,853. PPG Industries, Inc. has a one year low of $113.00 and a one year high of $145.60. The firm has a market cap of $28.57 billion, a PE ratio of 19.50, a P/E/G ratio of 1.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The firm's 50 day moving average is $121.25 and its 200-day moving average is $124.58.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, February 21st. PPG Industries's dividend payout ratio is presently 43.11%.

Analyst Upgrades and Downgrades

Several research firms have commented on PPG. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Royal Bank of Canada decreased their target price on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 22nd. KeyCorp cut PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Mizuho decreased their price objective on PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. Finally, Citigroup dropped their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.