The Vanguard Group, Inc. has recently announced that it has increased stake in PPG Industries Inc. (NYSE:PPG) by 0.39%. After grabbing 19.84 million shares, the institutional investor is now in possession of 77879.0 shares of the Basic Materials Company. The new investment brought the stake of investor firm to 8.43% having worth around $2.78 billion. Moreover, JPMorgan Investment Management, I increased its share by 1.07 million to have a control over 14.78 million shares. And Geode Capital Management LLC raised its holdings to 0.11 million shares by acquiring 4.85 million shares or 2.06% of the stake.
PPG Industries Inc. (PPG) concluded trading on 05/25/23 at a closing price of $133.04, with 2.0 million shares of worth about $266.11 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 0.80% during that period and on Thursday the price saw a loss of about -0.28%. Currently the company’s common shares owned by public are about 235.80M shares, out of which, 234.40M shares are available for trading.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
Sponsored
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 29 analysts are covering the PPG stock and their offered price forecasts bring an average price target of $152.75. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $169.00 and could fall to a lowest price of $133.00. The stock’s current price level is 12.14% above of average price target set by the analysts, while a rise to estimated low would result in loss of -0.03% for the stock. However, touching the estimated high of $169.00 would mean a gain of 21.28% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 25 times over the past 12 months. They bought 119,972 shares in 13 of the transactions. In 12 selling transactions, insiders dumped 99,824 shares.
Vanguard Total Stock Market ETF, JPMorgan Equity Income Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in PPG Industries Inc. Vanguard Total Stock Market ETF is currently holding 7.31 million shares of worth totaling $1.02 billion. The company recently came buying 11057.0 shares which brought its stake up to 3.10% of the company’s outstanding shares. Vanguard 500 Index Fund, after buying 5.52 million shares, have now control over 2.34% of the stake in the company. It holds 29334.0 shares of worth $773.7 million.
PPG Industries Inc. (NYSE: PPG) started trading at $133.73, above $0.32 from concluding price of the previous day. However, the stock later moved at a day high price of 133.96, or with a loss of -0.28%. Stock saw a price change of -6.68% in past 5 days and over the past one month there was a price change of -3.34%. Year-to-date (YTD), PPG shares are showing a performance of 5.81% which increased to 9.53% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $107.06 but also hit the highest price of $145.51 during that period. The average intraday trading volume for PPG Industries Inc. shares is 1.43 million. The stock is currently trading -4.18% below its 20-day simple moving average (SMA20), while that difference is down -2.12% for SMA50 and it goes to 3.96% higher than SMA200.
The Vanguard Group, Inc. acquired 19.84 million shares of PPG Industries Inc. having value of about $2.78 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 77879.0 shares in the company valued at close to $10361022.16, or have control over 0.39% stake in the company. PPG Industries Inc. (NYSE: PPG) currently have 235.80M outstanding shares and institutions hold larger chunk of about 82.50% of that. Holding of mutual funds in the company is about 31.39% while other institutional holders and individual stake holders have control over 51.14% and 0.93% of the stake respectively.
The stock has a current market capitalization of $31.36B and its 3Y-monthly beta is at 1.17. PE ratio of stock for trailing 12 months is 24.75, while it has posted earnings per share of $5.38 in the same period. Its PEG reads 1.74 and has Quick Ratio of 1.10 while making debt-to-equity ratio of 1.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PPG, volatility over the week remained 1.96% while standing at 1.84% over the month.
Analysts are in expectations that PPG Industries Inc. (PPG) stock would likely to be making an EPS of $2.12 in the current quarter, while forecast for next quarter EPS is $1.85 and it is $8.16 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.05 which is $2.28 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.81 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -27.00% while it is estimated to increase by 12.86% in next year. EPS is likely to grow at an annualized rate of 14.21% for next 5-years, compared to annual growth of -5.80% made by the stock over the past 5-years.
Analysts at 29 brokerage firms have issued recommendations for the PPG Industries Inc. (PPG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.50. Out of those 29 Wall Street analysts, 12 recommended a “Buy” rating, while 14 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
