Daymark Wealth Partners LLC Has $6.59 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Daymark Wealth Partners LLC boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,166 shares of the specialty chemicals company’s stock after purchasing an additional 3,305 shares during the quarter. Daymark Wealth Partners LLC’s holdings in PPG Industries were worth $6,590,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PPG. Legend Financial Advisors Inc. acquired a new stake in PPG Industries during the 4th quarter worth $27,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries in the third quarter worth about $34,000. Albion Financial Group UT acquired a new stake in shares of PPG Industries during the fourth quarter worth about $38,000. Finally, Hara Capital LLC bought a new position in shares of PPG Industries during the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.56% of the company’s stock.

PPG Industries Stock Up 2.6 %

PPG stock opened at $123.41 on Wednesday. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve month high of $145.60. The company has a market cap of $28.63 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.89 and a beta of 1.24. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $121.18 and a two-hundred day moving average price of $124.75.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. PPG Industries’s payout ratio is 43.11%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada dropped their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Citigroup reduced their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $149.23.

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.