Wesbanco Bank Inc buys $17.5 Million stake in PPG Industries (PPG)

PPG Industries (PPG) : Wesbanco Bank Inc scooped up 46,033 additional shares in PPG Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 164,351 shares of PPG Industries which is valued at $17.5 Million.PPG Industries makes up approximately 1.05% of Wesbanco Bank Inc’s portfolio.

Other Hedge Funds, Including , Massachusetts Financial Services Co boosted its stake in PPG in the latest quarter, The investment management firm added 182,838 additional shares and now holds a total of 15,849,961 shares of PPG Industries which is valued at $1,691.2 Million. PPG Industries makes up approx 0.87% of Massachusetts Financial Services Co’s portfolio. Moors Cabot added PPG to its portfolio by purchasing 2,100 company shares during the most recent quarter which is valued at $224,070. PPG Industries makes up approx 0.04% of Moors Cabot’s portfolio.Findlay Park Partners Llp boosted its stake in PPG in the latest quarter, The investment management firm added 179,341 additional shares and now holds a total of 1,701,971 shares of PPG Industries which is valued at $181.6 Million. PPG Industries makes up approx 2.05% of Findlay Park Partners Llp’s portfolio.Whittier Trust Co reduced its stake in PPG by selling 556 shares or 4.31% in the most recent quarter. The Hedge Fund company now holds 12,356 shares of PPG which is valued at $1.4 Million. PPG Industries makes up approx 0.06% of Whittier Trust Co’s portfolio.

PPG Industries opened for trading at $106.38 and hit $107.03 on the upside on Friday, eventually ending the session at $106.21, with a gain of 0.54% or 0.57 points. The heightened volatility saw the trading volume jump to 9,06,316 shares. Company has a market cap of $28,259 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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