Traders Buy Shares of PPG Industries (PPG) on Weakness

Traders purchased shares of PPG Industries, Inc. (NYSE:PPG) on weakness during trading on Thursday. $42.47 million flowed into the stock on the tick-up and $24.20 million flowed out of the stock on the tick-down, for a money net flow of $18.27 million into the stock. Of all equities tracked, PPG Industries had the 23rd highest net in-flow for the day. PPG Industries traded down ($0.08) for the day and closed at $116.11

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price objective on PPG Industries from $114.00 to $127.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research note on Monday, November 27th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $120.00 price objective (up from $110.00) on shares of PPG Industries in a research note on Tuesday, November 28th. They noted that the move was a valuation call. Robert W. Baird lifted their price objective on PPG Industries from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Finally, Bank of America set a $120.00 price objective on PPG Industries and gave the company a “hold” rating in a research note on Friday, October 20th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $119.40.

The company has a market capitalization of $29,547.20, a price-to-earnings ratio of 19.71, a PEG ratio of 2.31 and a beta of 1.59. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 EPS. equities analysts predict that PPG Industries, Inc. will post 5.9 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is presently 26.12%.

A number of hedge funds have recently modified their holdings of the stock. Sullivan Bruyette Speros & Blaney LLC increased its position in PPG Industries by 0.4% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock worth $348,000 after purchasing an additional 12 shares during the period. Sigma Planning Corp increased its position in PPG Industries by 0.3% during the 2nd quarter. Sigma Planning Corp now owns 4,069 shares of the specialty chemicals company’s stock worth $447,000 after purchasing an additional 12 shares during the period. First Interstate Bank increased its position in PPG Industries by 3.1% during the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after purchasing an additional 35 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in PPG Industries by 1.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,663 shares of the specialty chemicals company’s stock worth $403,000 after purchasing an additional 54 shares during the period. Finally, Cypress Capital Management LLC increased its position in PPG Industries by 1.0% during the 2nd quarter. Cypress Capital Management LLC now owns 5,556 shares of the specialty chemicals company’s stock worth $611,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 75.09% of the company’s stock.

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PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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