PPG Industries Sees Unusually High Options Volume (PPG)

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PPG Industries, Inc. (NYSE:PPG) was the recipient of unusually large options trading on Wednesday. Investors bought 12,461 put options on the company. This represents an increase of approximately 1,257% compared to the average volume of 918 put options.

PPG has been the topic of a number of analyst reports. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Credit Suisse Group set a $115.00 target price on PPG Industries and gave the company a “hold” rating in a research report on Monday, October 15th. Goldman Sachs Group raised PPG Industries from a “buy” rating to a “conviction-buy” rating in a research note on Monday, October 29th. Citigroup raised PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 price target for the company in a report on Thursday, November 29th. Finally, JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $105.00 price objective for the company in a research note on Friday, October 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $117.03.

A number of hedge funds and other institutional investors have recently bought and sold shares of PPG. Creative Planning grew its position in shares of PPG Industries by 24.8% during the 3rd quarter. Creative Planning now owns 35,493 shares of the specialty chemicals company’s stock worth $3,873,000 after buying an additional 7,046 shares in the last quarter. Reliance Trust Co. of Delaware lifted its position in shares of PPG Industries by 13.1% in the third quarter. Reliance Trust Co. of Delaware now owns 11,328 shares of the specialty chemicals company’s stock valued at $1,236,000 after acquiring an additional 1,313 shares in the last quarter. G&S Capital LLC lifted its position in PPG Industries by 13.9% during the fourth quarter. G&S Capital LLC now owns 1,275 shares of the specialty chemicals company’s stock worth $130,000 after buying an additional 156 shares in the last quarter. Confluence Investment Management LLC raised its position in PPG Industries by 3.6% in the third quarter. Confluence Investment Management LLC now owns 162,008 shares of the specialty chemicals company’s stock valued at $17,680,000 after purchasing an additional 5,607 shares during the period. Finally, Global Financial Private Capital LLC acquired a new stake in shares of PPG Industries in the third quarter valued at $724,000. 78.42% of the stock is currently owned by institutional investors.

Shares of PPG stock opened at $107.36 on Friday. PPG Industries has a 12 month low of $94.37 and a 12 month high of $122.07. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.71 and a quick ratio of 1.22. The firm has a market cap of $24.23 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, January 17th. The specialty chemicals company reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.05. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the prior year, the business earned $1.19 earnings per share. PPG Industries’s revenue for the quarter was down 1.0% compared to the same quarter last year. Analysts forecast that PPG Industries will post 5.82 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Friday, February 22nd will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.79%. PPG Industries’s dividend payout ratio is currently 32.71%.

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About PPG Industries

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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