Pensionfund Sabic Lowers stake in PPG Industries (PPG)

PPG Industries (PPG) : Pensionfund Sabic reduced its stake in PPG Industries by 8.65% during the most recent quarter end. The investment management company now holds a total of 16,900 shares of PPG Industries which is valued at $1.9 Million after selling 1,600 shares in PPG Industries according to a report filed by the company on Apr 4, 2016 with the SEC.PPG Industries makes up approximately 0.58% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Pensionfund Dsm Netherlands reduced its stake in PPG by selling 2,000 shares or 5.26% in the most recent quarter. The Hedge Fund company now holds 36,000 shares of PPG which is valued at $4 Million. PPG Industries makes up approx 0.55% of Pensionfund Dsm Netherlands’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 closed down -0.15 points or -0.13% at $111.68 with 8,87,120 shares getting traded on Monday. Post opening the session at $112.07, the shares hit an intraday low of $111.59 and an intraday high of $112.84 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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