PPG Industries, Inc.’s filing revealed that its Senior VP & CFO Morales Vincent J unloaded Company’s shares for reported $0.48 million on Mar 01 ’24. In the deal valued at $140.94 per share,3,400 shares were sold. As a result of this transaction, Morales Vincent J now holds 28,439 shares worth roughly $3.98 million.
Then, Morales Vincent J sold 3,700 shares, generating $530,321 in total proceeds. Upon selling the shares at $143.33, the Senior VP & CFO now owns 22,665 shares.
Before that, MCGARRY MICHAEL H sold 58,378 shares. PPG Industries, Inc. shares valued at $8,491,397 were divested by the Executive Chairman at a price of $145.46 per share. As a result of the transaction, MCGARRY MICHAEL H now holds 195,706 shares, worth roughly $27.38 million.
UBS downgraded its PPG Industries, Inc. [PPG] rating to a Neutral from a a Buy in a research note published on March 07, 2024; the price target was decreased to $156 from $173. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in early March with a ‘”a Peer perform”‘ rating. Barclays also remained covering PPG and has decreased its forecast on February 27, 2024 with a “an Equal weight” recommendation from previously “an Overweight” rating. Redburn Atlantic revised its rating on February 01, 2024. It rated PPG as “a Neutral” which previously was an “a Buy”.
Price Performance Review of PPG
On Monday, PPG Industries, Inc. [NYSE:PPG] saw its stock jump 0.63% to $139.91. Over the last five days, the stock has lost -2.42%. PPG Industries, Inc. shares have fallen nearly -6.45% since the year began. Nevertheless, the stocks have risen 0.69% over the past one year. While a 52-week high of $152.89 was reached on 01/02/24, a 52-week low of $120.32 was recorded on 02/08/24. SMA at 50 days reached $141.13, while 200 days put it at $139.43. A total of 1.35 million shares were traded, compared to the trading of 0.13 million shares in the previous session.
Levels Of Support And Resistance For PPG Stock
The 24-hour chart illustrates a support level at 139.10, which if violated will result in even more drops to 138.28. On the upside, there is a resistance level at 140.61. A further resistance level may holdings at 141.30. The Relative Strength Index (RSI) on the 14-day chart is 45.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.42, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.22%. Stochastics %K at 24.55% indicates the stock is a holding.
How much short interest is there in PPG Industries, Inc.?
A steep rise in short interest was recorded in PPG Industries, Inc. stocks on Mar 15, 2024, growing by 1.21 million shares to a total of 3.93 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.72 million shares. There was a rise of 30.79%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.87% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.08.
