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.
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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