Should Investors Be Selling PPG Industries (PPG) Stock Following Today’s Jefferies Downgrade?

May 16, 2018 - By Winifred Garcia

PPG Industries, Inc. (NYSE:PPG) Logo

Investors sentiment decreased to 1 in Q4 2017. Its down 0.14, from 1.14 in 2017Q3. It dived, as 37 investors sold PPG Industries, Inc. shares while 245 reduced holdings. 86 funds opened positions while 197 raised stakes. 186.33 million shares or 0.01% more from 186.32 million shares in 2017Q3 were reported.

Whalerock Point Partners Lc has invested 0.26% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Banced holds 0.49% or 2,511 shares. Norinchukin Savings Bank The accumulated 0.04% or 20,345 shares. Abner Herrman And Brock Limited Liability invested in 2,450 shares. Raymond James Na reported 0.14% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Chilton Investment Limited Liability Corp holds 0.02% or 5,058 shares in its portfolio. Pennsylvania-based Susquehanna Group Llp has invested 0% in PPG Industries, Inc. (NYSE:PPG). Daiwa Sb Investments Ltd holds 0.21% or 6,940 shares in its portfolio. Bancorp Of The West holds 1,934 shares or 0.03% of its portfolio. Canada Pension Plan Inv Board has invested 0.04% in PPG Industries, Inc. (NYSE:PPG). Ontario Teachers Pension Plan Board invested 0.1% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Earnest Partners Ltd Liability Corporation holds 135 shares. Moreover, Tru Department Mb Natl Bank N A has 0% invested in PPG Industries, Inc. (NYSE:PPG) for 162 shares. Glob X Mgmt Comm Ltd Company stated it has 1,489 shares or 0% of all its holdings. Carderock Mngmt Incorporated holds 13,075 shares.

Since February 22, 2018, it had 0 insider buys, and 1 sale for $1.10 million activity.

PPG Industries (PPG) Receives a Downgrade

In a note sent to clients and investors on 16 May, Jefferies decreased shares of PPG Industries (PPG) to a lower “Hold” rating from the previous “Buy” rating.

The stock increased 0.46% or $0.47 during the last trading session, reaching $103.5. About 2.08M shares traded or 3.51% up from the average. PPG Industries, Inc. (PPG) has risen 7.79% since May 17, 2017 and is uptrending. It has underperformed by 3.76% the S&P500.

Analysts await PPG Industries, Inc. (NYSE:PPG) to report earnings on July, 19. They expect $1.90 EPS, up 3.83 % or $0.07 from last year’s $1.83 per share. PPG’s profit will be $473.71 million for 13.62 P/E if the $1.90 EPS becomes a reality. After $1.39 actual EPS reported by PPG Industries, Inc. for the previous quarter, Wall Street now forecasts 36.69 % EPS growth.

PPG Industries, Inc. manufactures and distributes coatings, specialty materials, and glass products. The company has market cap of $25.81 billion. It operates in three divisions: Performance Coatings, Industrial Coatings, and Glass. It has a 16.45 P/E ratio. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor for specialty applications; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

More notable recent PPG Industries, Inc. (NYSE:PPG) news were published by: Bizjournals.com which released: “PPG fires controller, continues internal probe of accounting errors” on May 11, 2018, also Prnewswire.com with their article: “WeissLaw LLP: PPG Industries, Inc. is the Subject of a Legal Investigation” published on May 14, 2018, Prnewswire.com published: “Hagens Berman Alerts Investors in PPG Industries, Inc. (PPG) to the Firm’s Investigation of Admitted Improper Accounting” on May 14, 2018. More interesting news about PPG Industries, Inc. (NYSE:PPG) were released by: Businesswire.com and their article: “Bragar Eagel & Squire, PC is Investigating PPG Industries, Inc. (PPG) on Behalf of Stockholders and Encourages …” published on May 15, 2018 as well as Prnewswire.com‘s news article titled: “PPG Industries (PPG) Investigated by Block & Leviton LLP For Violations of The Federal Securities Laws” with publication date: May 14, 2018.

PPG Industries, Inc. (NYSE:PPG) Institutional Positions Chart

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