PPG Industries (PPG) was Upgraded by Seaport Global Securities to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 130 from a previous price target of $125 . Earlier the firm had a rating of “Accumulate ” on the company shares. Seaport Global Securities advised their investors in a research report released on Jul 26, 2016.
Many Wall Street Analysts have commented on PPG Industries. PPG Industries was Upgraded by Longbow to ” Buy” on Jun 23, 2016.
On the company’s financial health, PPG Industries reported $1.85 EPS for the quarter, based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus estimate of $1.85. The company had revenue of $4064.00 million for the quarter, compared to analysts expectations of $4165.29 million. The company’s revenue was down -.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.67 EPS.
PPG Industries opened for trading at $108.79 and hit $110.14 on the upside on Wednesday, eventually ending the session at $110.03, with a gain of 1.52% or 1.65 points. The heightened volatility saw the trading volume jump to 23,61,134 shares. Company has a market cap of $29,275 M.
Investors should note that on Jul 21, 2016, PPG Industries announced a cash dividend of $0.4000. The company’s management has announced Aug 8, 2016 as the ex-dividend date and fixed the record date on Aug 10, 2016. The payable date has been fixed on Sep 12, 2016.
In a different news, on Mar 1, 2016, Charles E Bunch (Executive Chairman of Board) sold 46,286 shares at $98.17 per share price. According to the SEC, on Feb 26, 2016, Glenn E Ii Bost (Sr. VP & Gen. Counsel) sold 32,925 shares at $95.56 per share price. On Nov 3, 2015, Cynthia A Niekamp (Sr. VP, Automotive Coatings) sold 7,200 shares at $104.35 per share price, according to the Form-4 filing with the securities and exchange commission.
PPG Industries Inc. (PPG) manufactures and distributes a range of coatings optical and specialty materials and glass products. The Company operates business through three segments: Performance Coatings Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish aerospace architectural coatings-Americas and Asia Pacific architectural coatings-EMEA and protective and marine coatings operating businesses. It primarily supplies a range of protective and decorative coatings sealants and finishes along with paint strippers stains and related chemicals. The Industrial Coatings segment consists of the automotive original equipment manufacturer (OEM) coatings industrial coatings packaging coatings and the specialty coatings and materials operating businesses. The Glass segment consists of the flat glass and fiber glass businesses. It supplies flat glass and continuous-strand fiber glass products.