PPG Industries (NYSE:PPG) Sees Large Volume Increase

PPG Industries, Inc. (NYSE:PPG) saw unusually-high trading volume on Friday . Approximately 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 analysts have weighed in on the company. Redburn Atlantic lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Thursday, February 1st. KeyCorp dropped their price objective on PPG Industries from $167.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. UBS Group dropped their price objective on PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday. Wolfe Research started coverage on PPG Industries in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.00.

PPG Industries Stock Performance

The firm has a market cap of $30.83 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.61 and a beta of 1.28. The company has a 50 day moving average of $140.53 and a 200 day moving average of $138.87. 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 announced its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that PPG Industries, Inc. will post 8.46 EPS for the current fiscal year.

Insider Transactions at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in PPG. Vontobel Holding Ltd. grew its position in shares of PPG Industries by 51.9% during the 1st quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock worth $797,000 after purchasing an additional 2,048 shares in the last quarter. Sei Investments Co. increased its stake in PPG Industries by 14.7% in the first quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock valued at $3,099,000 after purchasing an additional 3,025 shares in the last quarter. Prudential PLC acquired a new position in shares of PPG Industries during the first quarter valued at about $619,000. Vanguard Group Inc. grew its holdings in shares of PPG Industries by 1.3% during the first quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after buying an additional 252,358 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. grew its holdings in shares of PPG Industries by 7.1% during the first quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock valued at $2,553,000 after buying an additional 1,283 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

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.