Intel stock extends gains after report of possible U.S. government stake
Timothy M. Knavish, Chairman and CEO of PPG Industries Inc. (NYSE:PPG), recently executed a series of stock transactions as reported in an SEC Form 4 filing. On February 14, Knavish sold 4,800 shares of common stock at an average price of $118.35, amounting to a total of $568,080. This sale was conducted under a pre-established trading plan. According to InvestingPro data, PPG (WA:IBSP)’s stock currently trades near its 52-week low, with relatively low price volatility, suggesting stable trading patterns.
In a related transaction, Knavish acquired 4,800 shares through the exercise of employee stock options at a price of $118.12 per share, resulting in a total acquisition value of $566,976. Following these transactions, Knavish holds 35,833 shares directly and additional shares indirectly through the company’s employee savings and deferred compensation plans. With a market capitalization of $27.39 billion and current P/E ratio of 24.7, InvestingPro analysis indicates the stock is slightly undervalued. Discover 8 more exclusive ProTips and comprehensive valuation metrics with an InvestingPro subscription.
In other recent news, PPG Industries has been a focal point of various financial firms’ analysis. JPMorgan downgraded PPG Industries from Overweight to Neutral, lowering the price target from $145.00 to $115.00, citing the company’s lagging growth in the Original Equipment Manufacturer sector and potential impacts due to the variable political climate in Mexico. RBC Capital Markets also adjusted its outlook on PPG, reducing the price target from $128.00 to $120.00 due to several headwinds facing the company, particularly in the automotive and industrial sectors.
Meanwhile, BMO Capital Markets revised its price target for PPG Industries, lowering it to $130 from $143, while maintaining an Outperform rating. This adjustment follows PPG Industries’ recent divestitures of US Arch and Silicas operations, with the company expected to experience gradual improvement by 2025. Mizuho (NYSE:MFG) Securities also adjusted its price target for PPG, reducing it to $140 from $150, while maintaining an Outperform rating.
Lastly, Jefferies analyst Laurence Alexander revised the price target for PPG Industries to $123.00 from $127.00, keeping a Hold rating on the stock. This adjustment was in response to the company’s fourth-quarter earnings per share falling short of both consensus and Jefferies’ own estimates. These are recent developments that investors should be aware of.
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