Concannon Wealth Management Exits Position in PPG Industries (PPG)

PPG Industries (PPG) : Concannon Wealth Management has sold out all of its stake in PPG Industries during the most recent quarter, according to the disclosure filed by the company on Apr 21, 2016 with the SEC. The investment management company has sold out 203 shares of PPG Industries which is valued at $22,978.

PPG Industries closed down -0.56 points or -0.49% at $112.99 with 12,46,896 shares getting traded on Wednesday. Post opening the session at $113.89, the shares hit an intraday low of $112.59 and an intraday high of $114.65 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in PPG during the most recent quarter. The investment firm sold 771,226 shares of PPG which is valued $87,295,071.Umb Bank N Amo reduced its stake in PPG by selling 94 shares or 2.27% in the most recent quarter. The Hedge Fund company now holds 4,040 shares of PPG which is valued at $457,288. PPG Industries makes up approx 0.02% of Umb Bank N Amo’s portfolio. Bkd Wealth Advisors added PPG to its portfolio by purchasing 1,976 company shares during the most recent quarter which is valued at $227,932. PPG Industries makes up approx 0.04% of Bkd Wealth Advisors’s portfolio.

On the company’s financial health, PPG Industries reported $1.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $1.30. The company had revenue of $3672.00 million for the quarter, compared to analysts expectations of $3675.02 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.37 EPS.

Many Wall Street Analysts have commented on PPG Industries. PPG Industries was Resumed by Credit Suisse to “Outperform” on Mar 22, 2016.

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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