PPG Industries, Inc.’s Trend Down, Especially After This Options Activity

 PPG Industries, Inc.'s Trend Down, Especially After This Options Activity

In today’s session PPG Industries, Inc. (PPG) recorded an unusually high (1,620) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious PPG decrease. With 1,620 contracts traded and 17154 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: PPG161021P00100000 closed last at: $7 or 418.5% up. About 932,883 shares traded hands. PPG Industries, Inc. (NYSE:PPG) has declined 7.55% since March 8, 2016 and is downtrending. It has underperformed by 16.86% the S&P500.

Analysts await PPG Industries, Inc. (NYSE:PPG) to report earnings on October, 20. They expect $1.72 EPS, up 6.83% or $0.11 from last year’s $1.61 per share. PPG’s profit will be $458.55M for 13.33 P/E if the $1.72 EPS becomes a reality. After $1.85 actual EPS reported by PPG Industries, Inc. for the previous quarter, Wall Street now forecasts -7.03% negative EPS growth.

PPG Industries, Inc. (NYSE:PPG) Ratings Coverage

Out of 12 analysts covering PPG Industries (NYSE:PPG), 11 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 92% are positive. $131 is the highest target while $106 is the lowest. The $115.30 average target is 25.72% above today’s ($91.71) stock price. PPG Industries has been the topic of 18 analyst reports since September 6, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, September 8. UBS upgraded the shares of PPG in a report on Friday, October 16 to “Buy” rating. The rating was maintained by Deutsche Bank on Sunday, September 6 with “Buy”. Seaport Global Securities initiated PPG Industries, Inc. (NYSE:PPG) rating on Tuesday, January 5. Seaport Global Securities has “Accumulate” rating and $115.0 price target. Credit Suisse reinitiated PPG Industries, Inc. (NYSE:PPG) on Tuesday, March 22 with “Outperform” rating. The rating was downgraded by CLSA to “Outperform” on Friday, May 6. The company was maintained on Monday, September 14 by RBC Capital Markets. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, October 11 report. As per Thursday, June 23, the company rating was upgraded by Longbow. Goldman Sachs upgraded it to “Buy” rating and $113 target price in Monday, October 12 report.

According to Zacks Investment Research, “PPG Industries, Inc. is comprised of three following basic business segments: coatings, glass and chemicals. Areas in which resources have been focused are automotive original, refinish, industrial, aerospace, packaging, and architectural coatings; flat glass, automotive original and replacement glass, aircraft transparencies, continuous-strand fiber glass; and chlor-alkali and specialty chemicals.”

Insitutional Activity: The institutional sentiment increased to 1.16 in 2016 Q2. Its up 0.02, from 1.14 in 2016Q1. The ratio is positive, as 53 funds sold all PPG Industries, Inc. shares owned while 226 reduced positions. 69 funds bought stakes while 254 increased positions. They now own 189.57 million shares or 4.05% less from 197.56 million shares in 2016Q1.
Cibc Ww Markets Inc, a Ontario – Canada-based fund reported 10,551 shares. Livforsakringsbolaget Skandia Omsesidigt holds 0.13% of its portfolio in PPG Industries, Inc. (NYSE:PPG) for 29,188 shares. Parsec Financial Management accumulated 0.03% or 3,155 shares. Pub Sector Pension Inv Board last reported 0.06% of its portfolio in the stock. Burt Wealth Advsrs last reported 0.06% of its portfolio in the stock. Ladenburg Thalmann Financial Services has 18,794 shares for 0.03% of their US portfolio. Sumitomo Mitsui Tru reported 809,812 shares or 0.15% of all its holdings. Joel Isaacson And Comm Ltd Llc last reported 0.03% of its portfolio in the stock. Moreover, Kcg has 0.05% invested in PPG Industries, Inc. (NYSE:PPG) for 22,063 shares. Ameriprise Financial reported 1.66 million shares or 0.1% of all its holdings. Ubs Asset Mgmt Americas Inc last reported 683,511 shares in the company. Bedrijfstakpensioenfonds Voor De Media Pno holds 9,000 shares or 0.13% of its portfolio. Cadence Capital Limited Co last reported 0.02% of its portfolio in the stock. The Australia-based Commonwealth Commercial Bank Of Aus has invested 0.02% in PPG Industries, Inc. (NYSE:PPG). Cramer Rosenthal Mcglynn Lc last reported 442,973 shares in the company.

Insider Transactions: Since July 26, 2016, the stock had 0 insider purchases, and 2 selling transactions for $5.33 million net activity. SEKMAKAS VIKTORAS R had sold 40,950 shares worth $4.37 million on Tuesday, July 26. KNAVISH TIMOTHY M had sold 9,300 shares worth $967,931.

PPG Industries, Inc. manufactures and distributes a range of coatings, specialty materials and glass products. The company has a market cap of $24.45 billion. PPG operates through three business divisions: Performance Coatings, Industrial Coatings and Glass. It has a 16.96 P/E ratio. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.

PPG Company Profile

PPG Industries, Inc. (PPG), incorporated on August 24, 1883, makes and distributes a range of coatings, specialty materials and glass products. PPG operates through three business divisions: Performance Coatings, Industrial Coatings and Glass. PPG is a global supplier of coatings. The Performance Coatings and Industrial Coatings divisions supply coatings and specialty materials for clients in a range of end-use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment (automotive OEM), and other industrial and consumer products. In addition to supplying coatings to the automotive OEM market, PPG supplies refinishes to the automotive aftermarket. PPG also serves commercial and residential new build and maintenance markets by supplying coatings to painting and maintenance contractors and directly to clients for decoration and maintenance.

More notable recent PPG Industries, Inc. (NYSE:PPG) news were published by: Wsj.com which released: “PPG Industries Third-Quarter Profit to Miss Wall Street View” on October 07, 2016, also Forbes.com with their article: “PPG Industries Enters Oversold Territory” published on October 07, 2016, Seekingalpha.com published: “PPG Industries Gets Smashed, Consider Buying The Dip” on October 07, 2016. More interesting news about PPG Industries, Inc. (NYSE:PPG) were released by: Fool.com and their article: “Why PPG Industries, Tyson Foods, and SunPower Slumped Today” published on October 07, 2016 as well as Nasdaq.com‘s news article titled: “PPG Industries Inc (PPG) Shares Cross Above 200 DMA” with publication date: October 03, 2016.

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