Leisure Capital Management Lowers stake in PPG Industries (PPG)

PPG Industries (PPG) : Leisure Capital Management reduced its stake in PPG Industries by 0.21% during the most recent quarter end. The investment management company now holds a total of 20,729 shares of PPG Industries which is valued at $2.2 Million after selling 43 shares in PPG Industries , the firm said in a disclosure report filed with the SEC on May 11, 2016.PPG Industries makes up approximately 2.22% of Leisure Capital Management’s portfolio.

Other Hedge Funds, Including , Novare Capital Management reduced its stake in PPG by selling 2,405 shares or 5.48% in the most recent quarter. The Hedge Fund company now holds 41,465 shares of PPG which is valued at $4.4 Million. PPG Industries makes up approx 1.23% of Novare Capital Management’s portfolio.Sonora Investment Management reduced its stake in PPG by selling 166 shares or 80.58% in the most recent quarter. The Hedge Fund company now holds 40 shares of PPG which is valued at $4,268. Ci Global Investments sold out all of its stake in PPG during the most recent quarter. The investment firm sold 300,000 shares of PPG which is valued $32.5 Million.Los Angeles Capital Management Equity Research Inc reduced its stake in PPG by selling 631 shares or 0.31% in the most recent quarter. The Hedge Fund company now holds 201,996 shares of PPG which is valued at $21.9 Million. PPG Industries makes up approx 0.20% of Los Angeles Capital Management Equity Research Inc’s portfolio.

PPG Industries opened for trading at $107.19 and hit $108.64 on the upside on Monday, eventually ending the session at $108.16, with a gain of 1.37% or 1.46 points. The heightened volatility saw the trading volume jump to 14,88,643 shares. Company has a market cap of $28,777 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.

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