PPG Industries (PPG) was Upgraded by Longbow to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Longbow advised their investors in a research report released on Jun 23, 2016.
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.
PPG Industries closed down -0.36 points or -0.33% at $108.06 with 13,46,303 shares getting traded on Tuesday. Post opening the session at $108.65, the shares hit an intraday low of $107.83 and an intraday high of $108.65 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Mar 1, 2016, Charles E Bunch (Executive Chairman of Board) sold 46,286 shares at $98.17 per share price. According to the SEC, on Feb 26, 2016, Glenn E Ii Bost (Sr. VP & Gen. Counsel) sold 32,925 shares at $95.56 per share price. On Nov 3, 2015, Cynthia A Niekamp (Sr. VP, Automotive Coatings) sold 7,200 shares at $104.35 per share price, according to the Form-4 filing with the securities and exchange commission.
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.