Aspire Private Capital LLC Buys Shares of 2,010 PPG Industries, Inc. (NYSE:PPG)

Aspire Private Capital LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, Holdings Channel reports. The firm acquired 2,010 shares of the specialty chemicals company’s stock, valued at approximately $240,000.

Several other hedge funds have also modified their holdings of the stock. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries during the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. increased its position in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries during the 3rd quarter worth $34,000. Hara Capital LLC acquired a new position in PPG Industries during the third quarter worth approximately $40,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries during the fourth quarter worth about $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PPG. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Royal Bank of Canada lowered their price objective on shares of 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. Finally, JPMorgan Chase & Co. lowered their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.23.

PPG Industries Stock Performance

NYSE PPG opened at $123.41 on Wednesday. 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 company has a market capitalization of $28.63 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.89 and a beta of 1.24. The stock has a fifty day simple moving average of $121.14 and a 200 day simple moving average of $124.77. 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is currently 43.11%.

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.