Daymark Wealth Partners LLC Acquires 14,235 Shares of PPG Industries, Inc. (NYSE:PPG)

Daymark Wealth Partners LLC boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 37.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,861 shares of the specialty chemicals company’s stock after purchasing an additional 14,235 shares during the period. Daymark Wealth Partners LLC’s holdings in PPG Industries were worth $6,870,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Elo Mutual Pension Insurance Co raised its stake in shares of PPG Industries by 4.4% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 20,562 shares of the specialty chemicals company’s stock valued at $3,075,000 after acquiring an additional 859 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of PPG Industries by 13.3% during the fourth quarter. State of Tennessee Treasury Department now owns 185,104 shares of the specialty chemicals company’s stock worth $27,682,000 after acquiring an additional 21,696 shares during the last quarter. Cresset Asset Management LLC lifted its stake in shares of PPG Industries by 9.3% during the fourth quarter. Cresset Asset Management LLC now owns 61,371 shares of the specialty chemicals company’s stock valued at $9,178,000 after acquiring an additional 5,204 shares during the period. Ethic Inc. boosted its holdings in PPG Industries by 12.1% in the fourth quarter. Ethic Inc. now owns 42,686 shares of the specialty chemicals company’s stock valued at $6,384,000 after acquiring an additional 4,608 shares during the last quarter. Finally, Putnam Investments LLC raised its holdings in PPG Industries by 3.1% during the 4th quarter. Putnam Investments LLC now owns 2,659,974 shares of the specialty chemicals company’s stock worth $397,799,000 after purchasing an additional 81,200 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Up 0.8 %

Shares of PPG stock traded up $1.05 during trading hours on Wednesday, hitting $128.28. 248,828 shares of the company were exchanged, compared to its average volume of 1,588,635. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average of $125.96 and a two-hundred day moving average of $129.78. The company has a market capitalization of $29.93 billion, a PE ratio of 21.49, a PEG ratio of 1.76 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 EPS. Analysts anticipate that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, August 12th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PPG shares. Bank of America cut their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Citigroup cut their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets decreased their price objective on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. UBS Group increased their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada decreased their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $151.08.

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.