Apollon Wealth Management LLC increased its holdings in PPG Industries, Inc. (NYSE:PPG – Get Rating) by 61.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,845 shares of the specialty chemicals company’s stock after buying an additional 1,469 shares during the period. Apollon Wealth Management LLC’s holdings in PPG Industries were worth $440,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in PPG. Janiczek Wealth Management LLC purchased a new stake in PPG Industries during the second quarter valued at about $29,000. Tradition Wealth Management LLC purchased a new stake in PPG Industries during the second quarter valued at about $33,000. Parkside Financial Bank & Trust raised its position in PPG Industries by 45.8% during the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 87 shares in the last quarter. LS Investment Advisors LLC purchased a new stake in PPG Industries during the second quarter valued at about $38,000. Finally, Lindbrook Capital LLC raised its position in PPG Industries by 45.4% during the second quarter. Lindbrook Capital LLC now owns 346 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.
PPG Industries Stock Up 0.8 %
NYSE PPG opened at $133.06 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.52 and a quick ratio of 1.03. The stock has a market capitalization of $31.27 billion, a PE ratio of 29.44, a PEG ratio of 5.60 and a beta of 1.14. PPG Industries, Inc. has a 1 year low of $107.06 and a 1 year high of $177.32. The business’s 50-day moving average is $116.53 and its 200 day moving average is $121.11.
PPG Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Thursday, November 10th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $2.48 annualized dividend and a yield of 1.86%. PPG Industries’s payout ratio is 54.87%.
Wall Street Analyst Weigh In
PPG has been the topic of a number of research reports. Mizuho lowered their price target on PPG Industries from $148.00 to $146.00 and set a “buy” rating on the stock in a research report on Friday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $130.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, October 21st. Barclays reduced their price objective on PPG Industries from $150.00 to $130.00 in a research note on Tuesday, October 11th. Citigroup reduced their price objective on PPG Industries from $131.00 to $117.00 in a research note on Tuesday, October 4th. Finally, Robert W. Baird reduced their price objective on PPG Industries from $180.00 to $125.00 in a research note on Tuesday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.83.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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