After Today’s Bearish Options Activity, Is PPG Industries, Inc.’s Near-Term Analysis Positive?

 After Today's Bearish Options Activity, Is PPG Industries, Inc.'s Near Term Analysis Positive?

In today’s session PPG Industries, Inc. (PPG) recorded an unusually high (174) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious PPG decrease. With 174 contracts traded and 17614 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: PPG161118P00100000 closed last at: $7.6 or 12.6% down. About 839,378 shares traded hands. PPG Industries, Inc. (NYSE:PPG) has declined 16.01% since March 29, 2016 and is downtrending. It has underperformed by 19.48% the S&P500.

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

Out of 14 analysts covering PPG Industries (NYSE:PPG), 10 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 71% are positive. PPG Industries has been the topic of 21 analyst reports since September 6, 2015 according to StockzIntelligence Inc. The rating was upgraded by Longbow to “Buy” on Thursday, June 23. On Tuesday, October 25 the stock rating was downgraded by Argus Research to “Hold”. On Tuesday, March 22 the stock rating was reinitiated by Credit Suisse with “Outperform”. The rating was maintained by RBC Capital Markets with “Outperform” on Tuesday, September 8. The company was initiated on Tuesday, January 5 by Seaport Global Securities. CLSA downgraded PPG Industries, Inc. (NYSE:PPG) on Friday, May 6 to “Outperform” rating. As per Tuesday, October 11, the company rating was maintained by RBC Capital Markets. The stock of PPG Industries, Inc. (NYSE:PPG) has “Buy” rating given on Tuesday, July 26 by Seaport Global. The stock has “Buy” rating given by UBS on Friday, October 16. The stock has “Outperform” rating given by RBC Capital Markets on Monday, September 14.

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 increased, 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.
Brandywine Global Invest Mgmt Ltd Liability Co last reported 235,790 shares in the company. Nationwide Fund Advsrs reported 357,360 shares or 0.16% of all its holdings. Whittier Trust Of Nevada holds 0% of its portfolio in PPG Industries, Inc. (NYSE:PPG) for 100 shares. Moreover, Ikos Cif has 0.31% invested in PPG Industries, Inc. (NYSE:PPG) for 918 shares. Comerica Bank has 129,100 shares for 0.12% of their US portfolio. First Trust accumulated 0.44% or 27,468 shares. The Washington-based S R Schill has invested 0.36% in PPG Industries, Inc. (NYSE:PPG). Ontario Teachers Pension Plan Board has 57,582 shares for 0.07% of their US portfolio. Motco holds 49,441 shares or 0.57% of its portfolio. State Of New Jersey Common Pension Fund D, a New Jersey-based fund reported 160,000 shares. Rbf Limited Liability Corporation accumulated 0.46% or 22,000 shares. Firstmerit Natl Bank N A Trustee, a Ohio-based fund reported 42,345 shares. Fcm Invests Tx accumulated 1,300 shares or 0.08% of the stock. X Mgmt last reported 38 shares in the company. Mizuho And Banking Ltd holds 0.15% of its portfolio in PPG Industries, Inc. (NYSE:PPG) for 485,529 shares.

Insider Transactions: Since July 26, 2016, the stock had 0 buys, and 2 insider sales for $5.33 million net activity. Another trade for 40,950 shares valued at $4.37M was made by SEKMAKAS VIKTORAS R on Tuesday, July 26. KNAVISH TIMOTHY M also sold $967,931 worth of PPG Industries, Inc. (NYSE:PPG) shares.

PPG Industries, Inc. manufactures and distributes a range of coatings, specialty materials and glass products. The company has a market cap of $24.48 billion. PPG operates through three business divisions: Performance Coatings, Industrial Coatings and Glass. It has a 31.34 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: Valuewalk.com which released: “Dividend Aristocrats In Focus Part 7: PPG Industries, Inc. (PPG)” on October 21, 2016, also Forbes.com with their article: “PPG Industries Enters Oversold Territory” published on October 07, 2016, Wsj.com published: “PPG Industries Third-Quarter Profit to Miss Wall Street View” on October 07, 2016. More interesting news about PPG Industries, Inc. (NYSE:PPG) were released by: Nasdaq.com and their article: “PPG Industries to Showcase Coatings at Metalcon 2016” published on October 13, 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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