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

Millstone Evans Group LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 384 shares of the specialty chemicals company’s stock, valued at approximately $46,000.

Other institutional investors have also made changes to their positions in the company. Legend Financial Advisors Inc. bought a new stake in PPG Industries in the fourth quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Albion Financial Group UT bought a new stake in PPG Industries in the fourth quarter worth $38,000. Crews Bank & Trust acquired a new position in PPG Industries during the fourth quarter worth $42,000. Finally, Sugar Maple Asset Management LLC bought a new position in PPG Industries during the fourth quarter valued at about $44,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PPG. UBS Group lowered their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Barclays restated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $138.15.

PPG Industries Price Performance

Shares of PPG stock opened at $110.75 on Monday. PPG Industries, Inc. has a 12 month low of $109.15 and a 12 month high of $145.61. The company has a market capitalization of $25.14 billion, a P/E ratio of 23.42, a P/E/G ratio of 2.19 and a beta of 1.22. The stock has a 50 day moving average of $116.09 and a two-hundred day moving average of $121.70. 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 (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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%. As a group, equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.46%. PPG Industries’s payout ratio is currently 57.51%.

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.