7,860 Shares in PPG Industries, Inc. (NYSE:PPG) Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,860 shares of the specialty chemicals company's stock, valued at approximately $939,000.

Other large investors also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at about $27,000. Prudent Man Investment Management Inc. bought a new stake in shares of PPG Industries in the 4th quarter valued at $36,000. Albion Financial Group UT bought a new stake in PPG Industries in the fourth quarter valued at $38,000. Crews Bank & Trust bought a new position in PPG Industries in the fourth quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries in the 4th quarter valued at $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Trading Up 1.6 %

NYSE:PPG traded up $1.58 during mid-day trading on Friday, reaching $100.00. 2,240,529 shares of the company's stock traded hands, compared to its average volume of 1,804,031. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market capitalization of $22.70 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.19 and a beta of 1.16. The company has a 50 day moving average price of $109.67 and a 200-day moving average price of $118.25. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data 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%. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.72%. PPG Industries's payout ratio is currently 57.51%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PPG shares. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered PPG Industries from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Mizuho decreased their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price target on shares of PPG Industries from $130.00 to $115.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, Citigroup dropped their target price on shares of PPG Industries from $135.00 to $113.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $132.31.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

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.