Exxonmobil Investment Management Inc Tx Lowers stake in PPG Industries (PPG)

PPG Industries (PPG) : Exxonmobil Investment Management Inc Tx reduced its stake in PPG Industries by 1.28% during the most recent quarter end. The investment management company now holds a total of 67,991 shares of PPG Industries which is valued at $6,372,796 after selling 879 shares in PPG Industries , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.PPG Industries makes up approximately 0.13% of Exxonmobil Investment Management Inc Tx’s portfolio.

Other Hedge Funds, Including , Central Bank Trust Co boosted its stake in PPG in the latest quarter, The investment management firm added 195 additional shares and now holds a total of 40,006 shares of PPG Industries which is valued at $3,749,762. PPG Industries makes up approx 1.07% of Central Bank Trust Co’s portfolio.Independence Advisors boosted its stake in PPG in the latest quarter, The investment management firm added 751 additional shares and now holds a total of 30,250 shares of PPG Industries which is valued at $2,835,333. PPG Industries makes up approx 1.34% of Independence Advisors’s portfolio. New England Research Management added PPG to its portfolio by purchasing 4,875 company shares during the most recent quarter which is valued at $495,203. PPG Industries makes up approx 0.42% of New England Research Management’s portfolio.West Oak Capital reduced its stake in PPG by selling 50 shares or 1.21% in the most recent quarter. The Hedge Fund company now holds 4,077 shares of PPG which is valued at $414,142. PPG Industries makes up approx 0.29% of West Oak Capital’s portfolio.

PPG Industries closed down -8.46 points or -8.28% at $93.73 with 71,36,802 shares getting traded on Friday. Post opening the session at $97.19, the shares hit an intraday low of $92.51 and an intraday high of $97.5 and the price fluctuated in this range throughout the day.Shares ended Friday 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 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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