Apollon Wealth Management LLC Sells 514 Shares of PPG Industries, Inc. (NYSE:PPG)

Apollon Wealth Management LLC reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 10.9% in the 3rd quarter, Holdings Channel reports. The firm owned 4,223 shares of the specialty chemicals company’s stock after selling 514 shares during the period. Apollon Wealth Management LLC’s holdings in PPG Industries were worth $559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sei Investments Co. raised its holdings in shares of PPG Industries by 10.2% during the 1st quarter. Sei Investments Co. now owns 61,648 shares of the specialty chemicals company’s stock worth $8,930,000 after buying an additional 5,700 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of PPG Industries by 3.0% in the first quarter. Blair William & Co. IL now owns 34,470 shares of the specialty chemicals company’s stock worth $4,995,000 after acquiring an additional 998 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of PPG Industries by 2.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 154,969 shares of the specialty chemicals company’s stock valued at $22,407,000 after purchasing an additional 4,406 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new position in PPG Industries during the 1st quarter worth approximately $669,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Bank of America lowered their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Mizuho cut their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. lowered their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Citigroup cut their target price 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 equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.93.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were 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 owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Trading Down 0.8 %

Shares of PPG stock opened at $122.53 on Friday. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a 50 day simple moving average of $127.37 and a two-hundred day simple moving average of $127.81. The company has a market cap of $28.43 billion, a P/E ratio of 19.42, a PEG ratio of 1.89 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the firm earned $2.07 EPS. The firm’s revenue was down 1.5% on a year-over-year basis. Research analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

About PPG Industries

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.