Daymark Wealth Partners LLC Buys 152 Shares of PPG Industries, Inc. (NYSE:PPG)

Daymark Wealth Partners LLC raised its stake in PPG Industries, Inc. (NYSE:PPG) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,626 shares of the specialty chemicals company’s stock after purchasing an additional 152 shares during the quarter. Daymark Wealth Partners LLC’s holdings in PPG Industries were worth $4,737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Financial Connections Group Inc. bought a new position in PPG Industries during the 2nd quarter valued at $25,000. LifeSteps Financial Inc. purchased a new stake in shares of PPG Industries in the first quarter valued at about $29,000. YHB Investment Advisors Inc. purchased a new position in PPG Industries during the first quarter worth about $29,000. Richardson Financial Services Inc. bought a new stake in PPG Industries in the 4th quarter worth about $29,000. Finally, Riverview Trust Co bought a new stake in PPG Industries in the 1st quarter worth about $34,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Down 0.4 %

Shares of PPG opened at $127.84 on Thursday. 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 $29.83 billion, a PE ratio of 21.59, a P/E/G ratio of 1.71 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $125.54 and its 200-day moving average price is $130.55.

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

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were paid a $0.68 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio is currently 45.95%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PPG shares. Bank of America cut their target price 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. UBS Group upped their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. KeyCorp lowered their target price 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. Royal Bank of Canada reduced their price target on shares of 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. Finally, Citigroup lowered their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company 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.