Daymark Wealth Partners LLC Lowers Holdings in PPG Industries, Inc. (NYSE:PPG)

Daymark Wealth Partners LLC lowered its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 50.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 have also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new position in PPG Industries during the fourth quarter valued at approximately $26,000. Prudent Man Investment Management Inc. purchased a new position in shares of PPG Industries in the 4th quarter valued at $36,000. Millstone Evans Group LLC bought a new position in shares of PPG Industries in the 4th quarter worth $46,000. Human Investing LLC bought a new position in shares of PPG Industries in the 4th quarter worth $48,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth $48,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Ratings Changes

PPG has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company lifted their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Bank of America restated a "neutral" rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PPG Industries currently has a consensus rating of "Moderate Buy" and an average target price of $128.42.

PPG Industries Stock Performance

Shares of NYSE PPG traded down $0.30 during midday trading on Wednesday, reaching $114.74. The company had a trading volume of 390,457 shares, compared to its average volume of 1,817,697. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The business's 50-day simple moving average is $106.81 and its 200 day simple moving average is $113.72. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market cap of $26.05 billion, a P/E ratio of 24.22, a P/E/G ratio of 2.19 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the prior year, the firm earned $1.87 EPS. The firm's revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries's dividend payout ratio is presently 58.24%.

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.