EverSource Wealth Advisors LLC Trims Holdings in PPG Industries, Inc. (NYSE:PPG)

EverSource Wealth Advisors LLC lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,800 shares of the specialty chemicals company’s stock after selling 1,686 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in PPG Industries were worth $6,832,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PPG. FinTrust Capital Advisors LLC increased its position in shares of PPG Industries by 38.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock valued at $41,000 after buying an additional 76 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in PPG Industries by 0.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock valued at $1,204,000 after buying an additional 76 shares during the last quarter. Gryphon Financial Partners LLC increased its position in PPG Industries by 1.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock worth $727,000 after buying an additional 81 shares in the last quarter. SYSTM Wealth Solutions LLC raised its holdings in shares of PPG Industries by 4.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,013 shares of the specialty chemicals company’s stock worth $292,000 after acquiring an additional 82 shares during the last quarter. Finally, Applied Capital LLC FL lifted its position in shares of PPG Industries by 1.3% in the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock valued at $928,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PPG. BMO Capital Markets reduced their price objective on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. KeyCorp reduced their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. UBS Group lifted their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Barclays dropped their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Finally, Bank of America decreased their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Stock Down 2.1 %

Shares of PPG Industries stock opened at $126.50 on Friday. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The stock has a market cap of $29.51 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. 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 company has a fifty day moving average price of $125.71 and a 200 day moving average price of $130.80.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.48 by $0.02. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $2.25 EPS. Equities research analysts forecast that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.15%. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio is currently 45.95%.

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.