Traders Sell PPG Industries (PPG) on Strength (PPG)

Traders sold shares of PPG Industries, Inc. (NYSE:PPG) on strength during trading on Thursday. $25.44 million flowed into the stock on the tick-up and $100.79 million flowed out of the stock on the tick-down, for a money net flow of $75.35 million out of the stock. Of all stocks tracked, PPG Industries had the 0th highest net out-flow for the day. PPG Industries traded up $0.83 for the day and closed at $108.47

Several analysts recently issued reports on the company. Longbow Research assumed coverage on PPG Industries in a research note on Friday. They issued a “neutral” rating for the company. Deutsche Bank cut their target price on PPG Industries from $124.00 to $116.00 and set a “buy” rating for the company in a research report on Tuesday, October 9th. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. Citigroup upgraded PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 target price for the company in a research report on Thursday. Finally, KeyCorp cut their target price on PPG Industries from $128.00 to $119.00 and set an “overweight” rating for the company in a research report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $119.00.

The stock has a market cap of $26.02 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.24 and a beta of 1.36. The company has a quick ratio of 1.22, a current ratio of 1.71 and a debt-to-equity ratio of 0.99.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.45. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the prior year, the company posted $1.52 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts expect that PPG Industries, Inc. will post 5.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 12th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.76%. PPG Industries’s dividend payout ratio is currently 32.71%.

Several hedge funds have recently made changes to their positions in the stock. Great Lakes Advisors LLC lifted its position in shares of PPG Industries by 5.0% during the 3rd quarter. Great Lakes Advisors LLC now owns 9,326 shares of the specialty chemicals company’s stock worth $1,018,000 after buying an additional 442 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its position in shares of PPG Industries by 122.8% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 24,683 shares of the specialty chemicals company’s stock worth $2,641,000 after buying an additional 13,605 shares during the last quarter. Morgan Stanley lifted its position in shares of PPG Industries by 43.6% during the 3rd quarter. Morgan Stanley now owns 1,239,867 shares of the specialty chemicals company’s stock worth $135,306,000 after buying an additional 376,348 shares during the last quarter. Legal & General Group Plc lifted its position in shares of PPG Industries by 4.9% during the 3rd quarter. Legal & General Group Plc now owns 1,382,399 shares of the specialty chemicals company’s stock worth $150,839,000 after buying an additional 64,576 shares during the last quarter. Finally, Standard Life Aberdeen plc lifted its position in shares of PPG Industries by 2.1% during the 3rd quarter. Standard Life Aberdeen plc now owns 273,138 shares of the specialty chemicals company’s stock worth $29,808,000 after buying an additional 5,731 shares during the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.

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About PPG Industries (NYSE:PPG)

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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