Wealth Enhancement Advisory Services LLC Decreases Stake in PPG Industries, Inc. (NYSE:PPG)

Wealth Enhancement Advisory Services LLC decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,528 shares of the specialty chemicals company's stock after selling 4,886 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in PPG Industries were worth $6,619,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PPG. Vanguard Group Inc. increased its position in PPG Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the period. FourThought Financial Partners LLC bought a new stake in shares of PPG Industries during the 4th quarter worth $458,000. Bell Asset Management Ltd acquired a new stake in shares of PPG Industries in the fourth quarter worth $6,955,000. Wealthfront Advisers LLC boosted its position in shares of PPG Industries by 256.2% in the fourth quarter. Wealthfront Advisers LLC now owns 23,761 shares of the specialty chemicals company's stock worth $2,838,000 after buying an additional 17,090 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in PPG Industries during the fourth quarter valued at $82,071,000. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Up 1.4%

Shares of PPG stock opened at $113.87 on Wednesday. The stock has a market cap of $25.85 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 2.54 and a beta of 1.17. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The firm's 50-day moving average is $109.08 and its 200-day moving average is $112.67.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The company had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same period last year, the firm earned $1.87 earnings per share. The business's revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders 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 2.39%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is currently 58.24%.

Analyst Upgrades and Downgrades

PPG has been the topic of several recent research reports. Wells Fargo & Company raised their target price on PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Bank of America restated a "neutral" rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Seaport Res Ptn cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Citigroup upped their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $129.83.

PPG Industries Company 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.

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