Santa Fe Partners adds PPG Industries (PPG) to its portfolio

PPG Industries (PPG) : Santa Fe Partners added new position in PPG Industries during the most recent quarter end. The investment management firm now holds 31,201 shares of PPG Industries which is valued at $3,599,035 , the company said in a statement filed on Apr 13, 2016 with the SEC.PPG Industries makes up approximately 0.59% of Santa Fe Partners’s portfolio.

PPG Industries opened for trading at $115 and hit $115.93 on the upside on Monday, eventually ending the session at $115.75, with a gain of 0.35% or 0.4 points. The heightened volatility saw the trading volume jump to 15,43,522 shares. Company has a market cap of $30,878 M.

Other Hedge Funds, Including , Livforsakringsbolaget Skandia Omsesidigt boosted its stake in PPG in the latest quarter, The investment management firm added 3,700 additional shares and now holds a total of 29,188 shares of PPG Industries which is valued at $3,366,836. PPG Industries makes up approx 0.16% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio.Proficio Capital Partners reduced its stake in PPG by selling 10 shares or 16.39% in the most recent quarter. The Hedge Fund company now holds 51 shares of PPG which is valued at $5,696. Catawba Capital Management Va sold out all of its stake in PPG during the most recent quarter. The investment firm sold 2,288 shares of PPG which is valued $255,524.Pensionfund Sabic reduced its stake in PPG by selling 1,600 shares or 8.65% in the most recent quarter. The Hedge Fund company now holds 16,900 shares of PPG which is valued at $1,887,392. PPG Industries makes up approx 0.58% of Pensionfund Sabic’s portfolio.

On the company’s financial health, PPG Industries reported $1.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $1.22. The company had revenue of $3696.00 million for the quarter, compared to analysts expectations of $3755.45 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.11 EPS.

Many Wall Street Analysts have commented on PPG Industries. PPG Industries was Resumed by Credit Suisse to “Outperform” on Mar 22, 2016. Shares were Reiterated by Deutsche Bank on Jan 22, 2016 to “Buy” and Lowered the Price Target to $ 105 from a previous price target of $110 .

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.

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