PPG Industries (PPG) : Hsbc Holdings Plc reduced its stake in PPG Industries by 4.92% during the most recent quarter end. The investment management company now holds a total of 1,133,299 shares of PPG Industries which is valued at $120.9 Million after selling 58,581 shares in PPG Industries , the firm said in a disclosure report filed with the SEC on May 13, 2016.PPG Industries makes up approximately 0.41% of Hsbc Holdings Plc’s portfolio.
Other Hedge Funds, Including , D.a. Davidson boosted its stake in PPG in the latest quarter, The investment management firm added 3,753 additional shares and now holds a total of 34,919 shares of PPG Industries which is valued at $3.7 Million. PPG Industries makes up approx 0.12% of D.a. Davidson’s portfolio.Guyasuta Investment Advisors Inc reduced its stake in PPG by selling 3,000 shares or 6.98% in the most recent quarter. The Hedge Fund company now holds 39,966 shares of PPG which is valued at $4.3 Million. PPG Industries makes up approx 0.59% of Guyasuta Investment Advisors Inc’s portfolio.Menta Capital boosted its stake in PPG in the latest quarter, The investment management firm added 3,660 additional shares and now holds a total of 9,420 shares of PPG Industries which is valued at $1 Million. PPG Industries makes up approx 0.14% of Menta Capital’s portfolio. Lmr Partners Llp sold out all of its stake in PPG during the most recent quarter. The investment firm sold 3,135 shares of PPG which is valued $339,552.Bartlett reduced its stake in PPG by selling 16 shares or 0.23% in the most recent quarter. The Hedge Fund company now holds 6,920 shares of PPG which is valued at $749,505. PPG Industries makes up approx 0.04% of Bartlett’s portfolio.
PPG Industries opened for trading at $108.26 and hit $108.73 on the upside on Wednesday, eventually ending the session at $108.32, with a gain of 0.52% or 0.56 points. The heightened volatility saw the trading volume jump to 8,00,585 shares. Company has a market cap of $28,820 M.
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.