PPG Industries Sees Unusually Large Options Volume (PPG)

PPG Industries (NYSE:PPG) was the target of some unusual options trading on Thursday. Stock traders acquired 2,280 put options on the company. This represents an increase of approximately 1,139% compared to the average volume of 184 put options.

NYSE PPG opened at $109.64 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $28,283.99, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 1.97 and a beta of 1.56. PPG Industries has a 1 year low of $100.45 and a 1 year high of $122.07.

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PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, April 19th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.10). The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. PPG Industries had a return on equity of 26.76% and a net margin of 10.98%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 earnings per share. analysts anticipate that PPG Industries will post 6.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Thursday, May 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.64%. PPG Industries’s payout ratio is presently 30.66%.

In other PPG Industries news, VP Jean-Marie Greindl sold 9,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the sale, the vice president now owns 27,685 shares in the company, valued at $3,205,646.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PPG. G&S Capital LLC bought a new stake in shares of PPG Industries in the fourth quarter worth about $110,000. Cerebellum GP LLC bought a new stake in shares of PPG Industries in the fourth quarter worth about $128,000. SeaCrest Wealth Management LLC bought a new stake in shares of PPG Industries in the fourth quarter worth about $132,000. Crewe Advisors LLC bought a new stake in shares of PPG Industries in the fourth quarter worth about $136,000. Finally, NuWave Investment Management LLC bought a new stake in shares of PPG Industries in the fourth quarter worth about $150,000. 76.85% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on PPG. Seaport Global Securities downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Tuesday. BMO Capital Markets began coverage on PPG Industries in a research note on Tuesday, March 27th. They set a “market perform” rating and a $123.00 price objective on the stock. ValuEngine cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Citigroup reduced their price objective on PPG Industries from $128.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Finally, JPMorgan Chase reaffirmed a “neutral” rating and set a $120.00 price objective on shares of PPG Industries in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $124.71.

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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.

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