Shelton Capital Management buys $6.2 Million stake in PPG Industries (PPG)

PPG Industries (PPG) : Shelton Capital Management scooped up 320 additional shares in PPG Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 58,202 shares of PPG Industries which is valued at $6.2 Million.PPG Industries makes up approximately 0.59% of Shelton Capital Management’s portfolio.

Other Hedge Funds, Including , Pictet Asset Management Ltd boosted its stake in PPG in the latest quarter, The investment management firm added 6,400 additional shares and now holds a total of 172,554 shares of PPG Industries which is valued at $18.4 Million. PPG Industries makes up approx 0.08% of Pictet Asset Management Ltd’s portfolio.Meiji Yasuda Asset Management Co Ltd. boosted its stake in PPG in the latest quarter, The investment management firm added 2,680 additional shares and now holds a total of 10,037 shares of PPG Industries which is valued at $1.1 Million. PPG Industries makes up approx 0.24% of Meiji Yasuda Asset Management Co Ltd.’s portfolio.Bristlecone Advisors reduced its stake in PPG by selling 1,160 shares or 29.52% in the most recent quarter. The Hedge Fund company now holds 2,770 shares of PPG which is valued at $295,559. PPG Industries makes up approx 0.12% of Bristlecone Advisors’s portfolio. Engineers Gate Manager Lp sold out all of its stake in PPG during the most recent quarter. The investment firm sold 83,079 shares of PPG which is valued $8.9 Million.Airain Ltd reduced its stake in PPG by selling 19,665 shares or 88.72% in the most recent quarter. The Hedge Fund company now holds 2,501 shares of PPG which is valued at $266,857. PPG Industries makes up approx 0.02% of Airain Ltd’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.

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