Elevation Point Wealth Partners LLC Has $2.81 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Elevation Point Wealth Partners LLC lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 10.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,718 shares of the specialty chemicals company's stock after selling 2,971 shares during the period. Elevation Point Wealth Partners LLC's holdings in PPG Industries were worth $2,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PPG. Park Square Financial Group LLC bought a new stake in PPG Industries during the 4th quarter valued at $26,000. Prudent Man Investment Management Inc. bought a new stake in shares of PPG Industries during the fourth quarter valued at about $36,000. CX Institutional acquired a new stake in PPG Industries in the first quarter worth about $44,000. Millstone Evans Group LLC bought a new position in PPG Industries in the 4th quarter valued at about $46,000. Finally, Human Investing LLC bought a new position in PPG Industries in the 4th quarter valued at about $48,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PPG has been the topic of a number of recent analyst reports. Seaport Res Ptn downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Bank of America reissued a "neutral" rating and set a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. UBS Group lifted their price target on PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, Citigroup upped their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $129.83.

PPG Industries Trading Down 5.2%

Shares of NYSE:PPG traded down $5.78 during mid-day trading on Friday, hitting $106.25. The stock had a trading volume of 2,499,615 shares, compared to its average volume of 1,831,065. The company's 50 day moving average is $107.69 and its 200-day moving average is $113.50. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a market cap of $24.12 billion, a PE ratio of 22.46, 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 analysts' consensus estimates of $1.62 by $0.10. The company had revenue of $3.68 billion during 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 company's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.87 earnings per share. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries's dividend payout ratio is currently 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.