PPG Industries, Inc. Has More Gas To Decrease After Today’s Bearish Options Activity

 PPG Industries, Inc. Has More Gas To Decrease After Today's Bearish Options Activity

In today’s session PPG Industries, Inc. (PPG) recorded an unusually high (845) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the February, 2017 put, expecting serious PPG decrease. With 845 contracts traded and 5004 open interest for the Feb, 17 contract, it seems this is a quite bearish bet. The option with symbol: PPG170217P00085000 closed last at: $1.15 or 11.5% down. About 317,224 shares traded hands. PPG Industries, Inc. (NYSE:PPG) has declined 12.37% since April 21, 2016 and is downtrending. It has underperformed by 17.70% the S&P500.

Analysts await PPG Industries, Inc. (NYSE:PPG) to report earnings on January, 19. They expect $1.19 earnings per share, down 3.25% or $0.04 from last year’s $1.23 per share. PPG’s profit will be $315.60 million for 20.33 P/E if the $1.19 EPS becomes a reality. After $1.56 actual earnings per share reported by PPG Industries, Inc. for the previous quarter, Wall Street now forecasts -23.72% negative EPS growth.

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. $131 is the highest target while $100 is the lowest. The $114.30 average target is 18.09% above today’s ($96.79) stock price. PPG Industries has been the topic of 21 analyst reports since September 6, 2015 according to StockzIntelligence Inc. The stock of PPG Industries, Inc. (NYSE:PPG) has “Neutral” rating given on Friday, October 21 by Goldman Sachs. The stock of PPG Industries, Inc. (NYSE:PPG) has “Buy” rating given on Sunday, September 6 by Deutsche Bank. The firm has “Outperform” rating given on Tuesday, September 8 by RBC Capital Markets. The stock has “Accumulate” rating given by Seaport Global Securities on Tuesday, January 5. As per Monday, April 18, the company rating was maintained by Citigroup. Seaport Global upgraded the stock to “Buy” rating in Tuesday, July 26 report. Goldman Sachs upgraded the stock to “Buy” rating in Monday, October 12 report. The rating was maintained by RBC Capital Markets with “Outperform” on Tuesday, October 11. The stock of PPG Industries, Inc. (NYSE:PPG) earned “Outperform” rating by CLSA on Friday, May 6. The rating was maintained by RBC Capital Markets on Wednesday, November 25 with “Outperform”.

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 decreased to 0.93 in Q2 2016. Its down 0.23, from 1.16 in 2016Q1. The ratio fall, 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.
Stone Run Ltd Liability Company last reported 0.14% of its portfolio in the stock. Rnc Capital Limited Liability Com has 0.03% invested in the company for 3,590 shares. The Japan-based Shinko Asset Mgmt Com Limited has invested 0% in PPG Industries, Inc. (NYSE:PPG). Aberdeen Asset Mgmt Public Limited Co Uk accumulated 88,409 shares or 0.03% of the stock. Department Mb Comml Bank N A owns 20 shares or 0% of their US portfolio. Envestnet Asset Mngmt Incorporated has 0.03% invested in the company for 77,103 shares. Norinchukin Comml Bank The reported 13,955 shares or 0.04% of all its holdings. Royal Bank & Trust Of Canada owns 527,362 shares or 0.03% of their US portfolio. Welch Grp Ltd Company, a Alabama-based fund reported 3,312 shares. Mogy Joel R Counsel Inc last reported 3,800 shares in the company. Campbell Co Inv Adviser Limited Liability Com has invested 1.34% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Qcm Cayman last reported 2,481 shares in the company. Massmutual Trust Com Fsb Adv last reported 0% of its portfolio in the stock. California State Teachers Retirement System, a California-based fund reported 562,225 shares. Moors Cabot last reported 0.04% of its portfolio in the stock.

Insider Transactions: Since July 26, 2016, the stock had 0 insider purchases, and 2 sales for $5.33 million net activity. On Tuesday, July 26 SEKMAKAS VIKTORAS R sold $4.37 million worth of the stock or 40,950 shares. 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 $25.67 billion. PPG operates through three business divisions: Performance Coatings, Industrial Coatings and Glass. It has a 32.54 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 news for PPG Industries, Inc. (NYSE:PPG) were recently published by: Nasdaq.com, which released: “PPG Industries’ (PPG) Coatings Systems Selected by Airbus” on November 23, 2016. Nasdaq.com‘s article titled: “Ex-Dividend Reminder: PPG Industries, Olin and Neenah Paper” and published on November 04, 2016 is yet another important article.

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