The stock of PPG Industries, Inc. (NYSE:PPG) is a huge mover today! About 2.12 million shares traded hands or 65.63% up from the average. PPG Industries, Inc. (NYSE:PPG) has declined 0.29% since March 4, 2016 and is downtrending. It has underperformed by 8.33% the S&P500.
The move comes after 6 months negative chart setup for the $25.20 billion company. It was reported on Oct, 7 by Barchart.com. We have $87.48 PT which if reached, will make NYSE:PPG worth $1.76 billion less.
Analysts await PPG Industries, Inc. (NYSE:PPG) to report earnings on October, 20. They expect $1.72 earnings per share, up 6.83% or $0.11 from last year’s $1.61 per share. PPG’s profit will be $460.73 million for 13.67 P/E if the $1.72 EPS becomes a reality. After $1.85 actual earnings per share reported by PPG Industries, Inc. for the previous quarter, Wall Street now forecasts -7.03% negative EPS growth.
PPG Industries, Inc. (NYSE:PPG) Ratings Coverage
Out of 12 analysts covering PPG Industries (NYSE:PPG), 11 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 92% are positive. PPG Industries has been the topic of 17 analyst reports since September 6, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Sunday, September 6 by Deutsche Bank. RBC Capital Markets maintained it with “Outperform” rating and $126 target price in Tuesday, September 8 report. The stock of PPG Industries, Inc. (NYSE:PPG) earned “Buy” rating by Seaport Global on Tuesday, July 26. The stock has “Buy” rating given by Citigroup on Monday, April 18. The stock has “Outperform” rating given by RBC Capital Markets on Monday, September 14. The firm has “Accumulate” rating given on Tuesday, January 5 by Seaport Global Securities. As per Wednesday, November 25, the company rating was maintained by RBC Capital Markets. The stock has “Buy” rating given by Longbow on Thursday, June 23. The stock of PPG Industries, Inc. (NYSE:PPG) has “Buy” rating given on Friday, October 16 by UBS. The firm has “Buy” rating given on Monday, October 12 by Goldman Sachs.
According to Zacks Investment Research, “PPG Industries, Inc. is comprised of three following basic business segments: coatings, glass and chemicals. Areas in which resources have been focused are automotive original, refinish, industrial, aerospace, packaging, and architectural coatings; flat glass, automotive original and replacement glass, aircraft transparencies, continuous-strand fiber glass; and chlor-alkali and specialty chemicals.”
Insitutional Activity: The institutional sentiment increased to 1.16 in 2016 Q2. Its up 0.02, from 1.14 in 2016Q1. The ratio increased, as 53 funds sold all PPG Industries, Inc. shares owned while 226 reduced positions. 69 funds bought stakes while 254 increased positions. They now own 189.57 million shares or 4.05% less from 197.56 million shares in 2016Q1.
Gulf Savings Bank (Uk) Ltd reported 82,798 shares or 0.14% of all its holdings. Manchester Cap Mgmt Ltd Liability Corporation owns 4,440 shares or 0.07% of their US portfolio. Ariel Capital Advsrs Ltd Limited Liability Company reported 2,999 shares or 0.19% of all its holdings. Envestnet Asset Mngmt Inc holds 77,103 shares or 0.03% of its portfolio. Baring Asset Mgmt Limited holds 1.64% of its portfolio in PPG Industries, Inc. (NYSE:PPG) for 193,450 shares. Deutsche Retail Bank Ag has 0.09% invested in the company for 1.19 million shares. Moreover, Cleararc Inc has 0.13% invested in PPG Industries, Inc. (NYSE:PPG) for 6,472 shares. Moreover, Gemmer Asset Ltd Liability has 0.05% invested in PPG Industries, Inc. (NYSE:PPG) for 828 shares. Stifel has 70,793 shares for 0.03% of their US portfolio. Adage Capital Group Ltd last reported 0.08% of its portfolio in the stock. Invest Centers Of America has 4,807 shares for 0.1% of their US portfolio. Blackrock Advsrs Ltd Limited Liability Company last reported 420,489 shares in the company. Cornerstone Mngmt Holding Ltd has invested 0.05% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Marathon Mgmt has invested 0.11% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Goelzer Investment Management Incorporated last reported 0.43% of its portfolio in the stock.
Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 2 sales for $5.33 million net activity. On Thursday, August 4 KNAVISH TIMOTHY M sold $967,931 worth of the stock or 9,300 shares. $4.37M worth of PPG Industries, Inc. (NYSE:PPG) was sold by SEKMAKAS VIKTORAS R on Tuesday, July 26.
More news for PPG Industries, Inc. (NYSE:PPG) were recently published by: Nasdaq.com, which released: “PPG Industries Inc (PPG) Shares Cross Above 200 DMA” on October 03, 2016. Zacks.com‘s article titled: “PPG Industries (PPG) Gets Naming Rights to Pittsburgh Arena” and published on October 05, 2016 is yet another important article.
PPG Company Profile
PPG Industries, Inc. (PPG), incorporated on August 24, 1883, makes and distributes a range of coatings, specialty materials and glass products. PPG operates through three business divisions: Performance Coatings, Industrial Coatings and Glass. PPG is a global supplier of coatings. The Performance Coatings and Industrial Coatings divisions supply coatings and specialty materials for clients in a range of end-use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment (automotive OEM), and other industrial and consumer products. In addition to supplying coatings to the automotive OEM market, PPG supplies refinishes to the automotive aftermarket. PPG also serves commercial and residential new build and maintenance markets by supplying coatings to painting and maintenance contractors and directly to clients for decoration and maintenance.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.