Sugar Maple Asset Management LLC Buys Shares of 366 PPG Industries, Inc. (NYSE:PPG)

Sugar Maple Asset Management LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 366 shares of the specialty chemicals company’s stock, valued at approximately $44,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PFW Advisors LLC purchased a new position in PPG Industries in the fourth quarter valued at about $868,000. Equity Investment Corp grew its stake in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after purchasing an additional 42,380 shares in the last quarter. Ritholtz Wealth Management purchased a new position in PPG Industries in the third quarter valued at about $604,000. JGP Wealth Management LLC bought a new stake in shares of PPG Industries during the 4th quarter worth about $4,050,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of PPG Industries by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after acquiring an additional 15,161 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research firms have recently issued reports on PPG. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Mizuho dropped their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Royal Bank of Canada dropped their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft 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 Thursday, December 19th. Seven investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.23.

PPG Industries Stock Up 0.5 %

NYSE:PPG opened at $120.14 on Tuesday. PPG Industries, Inc. has a 12-month low of $113.00 and a 12-month high of $145.86. 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 market capitalization of $27.87 billion, a P/E ratio of 19.04, a P/E/G ratio of 1.89 and a beta of 1.24. The stock’s fifty day simple moving average is $121.26 and its 200-day simple moving average is $124.80.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is presently 43.11%.

About PPG Industries

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.