Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. PPG Industries Inc. shares valued at $3,908,273 were sold by Liebert Rebecca B. on Apr 27. At $129.90 per share, Liebert Rebecca B. sold 30,086 shares. The insider’s holdings dropped to 24,693 shares worth approximately $2.82 million following the completion of this transaction.
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As published in their initiating research note from Credit Suisse on May 31, 2022, PPG Industries Inc. [PPG] has been an Underperform and the price target has been revised to $115. This represents a 0.56% premium over Thursday’s closing price. Analysts at Berenberg downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid May. As of January 24, 2022, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for PPG. Earlier on January 04, 2022, Vertical Research downgraded its rating. Their new recommendation was “a Hold” for PPG stock which previously was a “a Buy”.
Analyzing PPG’s Price Performance
On Thursday, PPG Industries Inc. [NYSE: PPG] rose 1.44% to $114.36. The stock’s lowest price that day was $111.76, but it reached a high of $114.66 in the same session. During the last five days, there has been a surge of approximately 0.65%. Over the course of the year, PPG Industries Inc. shares have dropped approximately -33.68%. Shares of the company reached a 52-week high of $177.32 on 01/05/22 and a 52-week low of $107.06 on 06/17/22. A 50-day SMA is recorded $124.46, while a 200-day SMA reached $144.88. Nevertheless, trading volume fell to 1.26 million shares from 1.43 million shares the previous day.
Support And Resistance Levels for PPG Industries Inc. (PPG)
According to the 24-hour chart, there is a support level at 112.53, which, if violated, would cause prices to drop to 110.69. In the upper region, resistance lies at 115.43. The next price resistance is at 116.49. RSI (Relative Strength Index) is 42.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.78, which suggests the price will decrease in the coming days. Percent R is at 72.89%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is PPG Industries Inc. subject to short interest?
Stocks of PPG Industries Inc. saw a sharp rise in short interest on May 30, 2022 jumping by 0.54 million shares to 2.49 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 1.95 million shares. A jump of 21.69% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.79 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.79.
Which companies own the most shares of PPG Industries Inc. (PPG)?
According to The Vanguard Group, Inc. filings, the company currently owns 19,268,485 shares, which is about 8.16% of the total PPG shares outstanding. The investor’s shares have appreciated by 277,555 from its previous 13-F filing of 18990930.0 shares. With the completion of the buy transaction, Massachusetts Financial Services’s stake is now worth $1,962,063,928. Wellington Management Co. LLP acquire a 61.67% interest valued at $1.69 billion while BlackRock Fund Advisors purchased a 172,160 stake. A total of -101,599 shares of PPG Industries Inc. were bought by SSgA Funds Management, Inc. during the quarter, and -2,432,982 were sold by JPMorgan Investment Management, I. In its current portfolio, ClearBridge Investments LLC holds 5,270,115 shares valued at $666.62 million.
In terms of PPG Industries Inc. share price expectations, FactSet research, analysts set an average price target of $152.73 in the next 12 months, up nearly 35.71% from the previous closing price of $112.74. Analysts anticipate PPG Industries Inc. stock to reach $180.00 by 2022, with the lowest price target being $115.00. In spite of this, 27 analysts ranked PPG Industries Inc. stock as an Overweight at the end of 2022. On December 07, 2021, Evercore ISI assigned a price target of “an Outperform” to the stock and upgraded coverage with a $190.