Investors Buy Large Volume of Put Options on PPG Industries (PPG)
PPG Industries, Inc. (NYSE:PPG) saw unusually large options trading on Friday. Stock investors acquired 1,172 put options on the stock. This represents an increase of 615% compared to the average daily volume of 164 put options.
PPG Industries (NYSE PPG) opened at $116.75 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.26 and a current ratio of 1.65. PPG Industries has a 52 week low of $93.80 and a 52 week high of $119.85. The company has a market capitalization of $29,920.00, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 2.31 and a beta of 1.60.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 EPS for the quarter, hitting analysts’ consensus estimates of $1.52. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. sell-side analysts predict that PPG Industries will post 5.9 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is 35.86%.
PPG has been the subject of several analyst reports. Credit Suisse Group set a $119.00 price objective on PPG Industries and gave the stock a “buy” rating in a research report on Friday, October 20th. Jefferies Group reiterated a “buy” rating and issued a $120.00 price objective on shares of PPG Industries in a research report on Thursday, October 19th. Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Robert W. Baird reiterated a “buy” rating and issued a $115.00 price objective on shares of PPG Industries in a research report on Friday, September 1st. Finally, Bank of America set a $120.00 price objective on PPG Industries and gave the stock a “hold” rating in a research report on Friday, October 20th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. PPG Industries presently has an average rating of “Hold” and a consensus price target of $119.40.
A number of large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new position in PPG Industries during the third quarter worth $571,000. Smith Shellnut Wilson LLC ADV acquired a new position in PPG Industries during the third quarter worth $393,000. Belpointe Asset Management LLC acquired a new position in PPG Industries during the third quarter worth $423,000. IFM Investors Pty Ltd acquired a new position in PPG Industries during the third quarter worth $785,000. Finally, Wealthcare Advisory Partners LLC lifted its stake in PPG Industries by 1,207.4% during the third quarter. Wealthcare Advisory Partners LLC now owns 5,661 shares of the specialty chemicals company’s stock worth $615,000 after purchasing an additional 5,228 shares in the last quarter. Institutional investors own 75.09% of the company’s stock.
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About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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