Daymark Wealth Partners LLC Sells 28,075 Shares of PPG Industries, Inc. (NYSE:PPG)

Daymark Wealth Partners LLC reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 50.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PPG. PUREfi Wealth LLC bought a new stake in shares of PPG Industries during the 4th quarter worth about $279,000. Vanguard Group Inc. lifted its position in PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after purchasing an additional 756,937 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of PPG Industries during the 4th quarter valued at about $2,543,000. FourThought Financial Partners LLC acquired a new stake in PPG Industries during the fourth quarter valued at approximately $458,000. Finally, Empowered Funds LLC grew its position in PPG Industries by 20.9% in the fourth quarter. Empowered Funds LLC now owns 24,828 shares of the specialty chemicals company's stock valued at $2,966,000 after acquiring an additional 4,287 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Trading Up 1.4%

NYSE PPG traded up $1.60 during trading hours on Tuesday, hitting $115.06. The company's stock had a trading volume of 1,928,889 shares, compared to its average volume of 1,820,056. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The firm has a market capitalization of $26.12 billion, a P/E ratio of 24.33, a PEG ratio of 2.19 and a beta of 1.17. 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 stock has a fifty day moving average of $106.59 and a 200 day moving average of $113.71.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) 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 return on equity of 23.78% and a net margin of 6.41%. The firm's revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.87 EPS. Equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a $0.68 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.36%. PPG Industries's dividend payout ratio is 58.24%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PPG shares. Bank of America reissued a "neutral" rating and set a $126.00 price target (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. reduced their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Argus lowered PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Finally, Citigroup cut their price objective on PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $128.42.

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.