PPG Industries (NYSE:PPG) Hits New 52-Week High at $153.06


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PPG Industries, Inc. (NYSE:PPG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $153.06 and last traded at $152.36, with a volume of 36862 shares. The stock had previously closed at $151.28.

A number of analysts have issued reports on the company. BidaskClub downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 8th. Barclays lifted their target price on PPG Industries from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 1st. UBS Group lifted their price target on PPG Industries from $132.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Laurentian Bank of Canada (LB.TO) upgraded PPG Industries to a “buy” rating in a report on Wednesday, December 16th. Finally, BMO Capital Markets lifted their price target on PPG Industries from $173.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. PPG Industries has an average rating of “Buy” and a consensus target price of $135.89.

The stock has a market cap of $35.89 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 4.01 and a beta of 1.22. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 0.93. The business has a 50-day moving average of $145.61 and a 200-day moving average of $128.68.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Monday, October 19th. The specialty chemicals company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.01. PPG Industries had a return on equity of 25.46% and a net margin of 7.85%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts anticipate that PPG Industries, Inc. will post 5.54 earnings per share for the current year.

In other PPG Industries news, CEO Michael H. Mcgarry sold 81,022 shares of the business’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $133.65, for a total value of $10,828,590.30. Following the completion of the sale, the chief executive officer now owns 173,940 shares of the company’s stock, valued at $23,247,081. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP William E. Schaupp sold 3,850 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $134.66, for a total value of $518,441.00. Following the completion of the sale, the vice president now directly owns 4,333 shares of the company’s stock, valued at approximately $583,481.78. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. FMR LLC lifted its stake in PPG Industries by 27.8% in the first quarter. FMR LLC now owns 169,739 shares of the specialty chemicals company’s stock worth $19,158,000 after acquiring an additional 36,888 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in PPG Industries by 15.1% during the second quarter. Pinnacle Associates Ltd. now owns 2,816 shares of the specialty chemicals company’s stock worth $299,000 after buying an additional 370 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in PPG Industries during the second quarter worth about $269,000. Private Advisor Group LLC increased its holdings in PPG Industries by 1.9% during the second quarter. Private Advisor Group LLC now owns 15,319 shares of the specialty chemicals company’s stock worth $1,625,000 after buying an additional 292 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in PPG Industries by 903.7% during the second quarter. Sei Investments Co. now owns 68,441 shares of the specialty chemicals company’s stock worth $7,259,000 after buying an additional 61,622 shares during the last quarter. 77.11% of the stock is owned by institutional investors.

About PPG Industries (NYSE:PPG)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, 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, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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