Stock Traders Purchase High Volume of PPG Industries Call Options (PPG)

PPG Industries, Inc. (NYSE:PPG) was the recipient of unusually large options trading activity on Wednesday. Investors bought 3,418 call options on the stock. This represents an increase of approximately 831% compared to the average volume of 367 call options.

Several research analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and set a $113.00 target price on the stock. in a report on Friday, July 27th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Vertical Research downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Citigroup dropped their target price on shares of PPG Industries from $113.00 to $103.00 and set a “neutral” rating on the stock in a report on Thursday, October 11th. Finally, Royal Bank of Canada dropped their target price on shares of PPG Industries to $105.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $118.71.

NYSE:PPG opened at $98.12 on Thursday. PPG Industries has a 52-week low of $94.37 and a 52-week high of $122.07. The company has a current ratio of 1.70, a quick ratio of 1.22 and a debt-to-equity ratio of 1.01. The stock has a market cap of $26.41 billion, a PE ratio of 16.72, a P/E/G ratio of 2.11 and a beta of 1.50.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 19th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.02. PPG Industries had a net margin of 9.87% and a return on equity of 27.36%. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the firm posted $1.83 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, research analysts expect that PPG Industries will post 6.2 earnings per share for the current year.

Several large investors have recently bought and sold shares of PPG. Charles Schwab Investment Advisory Inc. bought a new position in shares of PPG Industries during the 2nd quarter worth about $327,975,000. Massachusetts Financial Services Co. MA increased its holdings in shares of PPG Industries by 15.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 22,112,913 shares of the specialty chemicals company’s stock worth $2,293,772,000 after purchasing an additional 2,995,436 shares during the period. Parnassus Investments CA increased its holdings in shares of PPG Industries by 68.1% during the 2nd quarter. Parnassus Investments CA now owns 4,256,434 shares of the specialty chemicals company’s stock worth $441,520,000 after purchasing an additional 1,724,631 shares during the period. Mondrian Investment Partners LTD bought a new position in shares of PPG Industries during the 2nd quarter worth about $46,290,000. Finally, Bank of America Corp DE increased its holdings in shares of PPG Industries by 15.2% during the 2nd quarter. Bank of America Corp DE now owns 3,051,444 shares of the specialty chemicals company’s stock worth $316,527,000 after purchasing an additional 401,643 shares during the period. Institutional investors own 76.64% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. 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; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

Further Reading: Insider Trading

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