PPG Industries, Inc. (NYSE:PPG) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 50.9% in the first quarter, Holdings Channel.com reports. The fund owned 27,091 shares of the specialty chemicals company’s stock after selling 28,075 shares during the quarter. Daymark Wealth Partners LLC’s holdings in PPG Industries were worth $2,962,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at about $26,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PPG Industries during the 4th quarter worth approximately $36,000. Millstone Evans Group LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth approximately $46,000. Human Investing LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth approximately $48,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE PPG opened at $113.49 on Tuesday. The business’s 50-day moving average price is $106.59 and its 200 day moving average price is $113.71. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The company has a market capitalization of $25.76 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. 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 announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.10. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.87 EPS. On average, research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Monday, May 12th. PPG Industries’s dividend payout ratio is currently 58.24%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Wells Fargo & Company boosted their target price on PPG Industries from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Citigroup decreased their price objective on shares of PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada boosted their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Finally, Fermium Researc upgraded shares of PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.42.

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.