PPG Industries (NYSE:PPG) Sees Large Volume Increase

PPG Industries, Inc. (NYSE:PPG) shares saw an uptick in trading volume on Friday . 541,551 shares were traded during trading, a decline of 68% from the previous session’s volume of 1,716,784 shares.The stock last traded at $131.96 and had previously closed at $135.11.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PPG. Citigroup cut their price target on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Robert W. Baird reiterated an “outperform” rating and issued a $150.00 price objective on shares of PPG Industries in a research report on Friday, January 19th. Royal Bank of Canada dropped their price objective on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a report on Monday, January 22nd. Barclays cut PPG Industries from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $163.00 to $149.00 in a research note on Tuesday, February 27th. Finally, Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.00.

PPG Industries Stock Down 3.1 %

The stock has a 50-day simple moving average of $140.53 and a two-hundred day simple moving average of $138.87. The firm has a market cap of $30.83 billion, a PE ratio of 25.30, a P/E/G ratio of 1.61 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.86. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 earnings per share. Analysts expect that PPG Industries, Inc. will post 8.46 earnings per share for the current year.

Insider Activity

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On PPG Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in PPG Industries during the 3rd quarter worth $25,000. Valued Wealth Advisors LLC acquired a new stake in PPG Industries during the 4th quarter worth about $26,000. SJS Investment Consulting Inc. lifted its position in PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 153 shares during the period. Private Wealth Management Group LLC acquired a new stake in PPG Industries during the 4th quarter worth about $27,000. Finally, CVA Family Office LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at about $28,000. 81.86% of the stock is owned by institutional investors.

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.