Western Asset Management Co Exits Position in PPG Industries (PPG)

PPG Industries (PPG) : Western Asset Management Co has sold out all of its stake in PPG Industries during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 23 shares of PPG Industries which is valued at $2,392.

Other Hedge Funds, Including , Wellington Management Group Llp boosted its stake in PPG in the latest quarter, The investment management firm added 107,273 additional shares and now holds a total of 1,583,766 shares of PPG Industries which is valued at $164,695,826. PPG Industries makes up approx 0.04% of Wellington Management Group Llp’s portfolio.B.s. Pension Fund Trustee Ltd Acting For The British Stee… reduced its stake in PPG by selling 10,271 shares or 43.1% in the most recent quarter. The Hedge Fund company now holds 13,557 shares of PPG which is valued at $1,409,792. PPG Industries makes up approx 0.19% of B.s. Pension Fund Trustee Ltd Acting For The British Stee…’s portfolio.Boston Family Office reduced its stake in PPG by selling 50 shares or 1.52% in the most recent quarter. The Hedge Fund company now holds 3,237 shares of PPG which is valued at $338,040. PPG Industries makes up approx 0.04% of Boston Family Office’s portfolio. Gsa Capital Partners Llp added PPG to its portfolio by purchasing 23,439 company shares during the most recent quarter which is valued at $2,447,735. PPG Industries makes up approx 0.13% of Gsa Capital Partners Llp’s portfolio.

PPG Industries closed down -0.89 points or -0.83% at $106.73 with 1,337,902 shares getting traded on Wednesday. Post opening the session at $107.24, the shares hit an intraday low of $106.42 and an intraday high of $107.79 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.

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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