Fort Pitt Capital Group buys $9,478,485 stake in PPG Industries (PPG)

PPG Industries (PPG) : Fort Pitt Capital Group scooped up 890 additional shares in PPG Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 90,851 shares of PPG Industries which is valued at $9,478,485.PPG Industries makes up approximately 1.13% of Fort Pitt Capital Group’s portfolio.

Other Hedge Funds, Including , Shelton Capital Management reduced its stake in PPG by selling 200 shares or 0.34% in the most recent quarter. The Hedge Fund company now holds 58,002 shares of PPG which is valued at $6,051,349. PPG Industries makes up approx 0.53% of Shelton Capital Management’s portfolio.Shell Asset Management Co boosted its stake in PPG in the latest quarter, The investment management firm added 5,010 additional shares and now holds a total of 18,931 shares of PPG Industries which is valued at $2,008,390. PPG Industries makes up approx 0.05% of Shell Asset Management Co’s portfolio.

PPG Industries closed down -0.23 points or -0.22% at $104.1 with 12,82,197 shares getting traded on Thursday. Post opening the session at $104.3, the shares hit an intraday low of $103.85 and an intraday high of $104.82 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, PPG Industries reported $1.85 EPS for the quarter, based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus estimate of $1.85. The company had revenue of $4064.00 million for the quarter, compared to analysts expectations of $4165.29 million. The company’s revenue was down -.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.67 EPS.

Investors should note that on Jul 21, 2016, PPG Industries announced a cash dividend of $0.4000. The company’s management has announced Aug 8, 2016 as the ex-dividend date and fixed the record date on Aug 10, 2016. The payable date has been fixed on Sep 12, 2016.

Many Wall Street Analysts have commented on PPG Industries. Company shares were Upgraded by Seaport Global Securities on Jul 26, 2016 to ” Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $125 .PPG Industries was Upgraded by Longbow to ” Buy” on Jun 23, 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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