Seaport Global Upgrades PPG Industries to Buy

Brokerage firm Seaport Global Upgrades its rating on PPG Industries(NYSE:PPG). The shares have been rated Buy. Previously, the analysts had a Accumulate rating on the shares. The rating by Seaport Global was issued on Jul 26, 2016.

In a different note, On Jun 23, 2016, Longbow Research said it Upgrades its rating on PPG Industries. The shares have been rated ‘Buy’ by the firm. On May 6, 2016, CLSA said it Downgrades its rating on PPG Industries. The shares have been rated ‘Outperform’ by the firm.

PPG Industries (PPG) shares turned negative on Fridays trading session with the shares closing down -0.77 points or -0.73% at a volume of 21,07,674. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $105.2295. The peak price level was also seen at $105.2295 while the days lowest was $103.7401. Finally the shares closed at $104.71. The 52-week high of the shares is $117 while the 52-week low is $82.93. According to the latest information available, the market cap of the company is $27,882 M.

PPG Industries has also declared a cash dividend of $0.4000 on Jul 21, 2016. The shares will quote ex-dividend on Aug 8, 2016 and the record date has been fixed on Aug 10, 2016. The dividend payable date has been fixed on Sep 12, 2016.

PPG Industries(PPG) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $4.06B. Analysts had an estimated revenue of $4.17B. Earnings per share were $1.85. Analysts had estimated an EPS of $1.86.

Several Insider Transactions has been reported to the SEC. On Mar 1, 2016, Charles E Bunch (Executive Chairman of Board) sold 46,286 shares at $98.17 per share price.Also, 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *