Pennsylvania Trust Co Lowers stake in PPG Industries (PPG)

PPG Industries (PPG) : Pennsylvania Trust Co reduced its stake in PPG Industries by 1.45% during the most recent quarter end. The investment management company now holds a total of 11,684 shares of PPG Industries which is valued at $1,081,938 after selling 172 shares in PPG Industries , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.PPG Industries makes up approximately 0.09% of Pennsylvania Trust Co’s portfolio.

Other Hedge Funds, Including , National Pension Service boosted its stake in PPG in the latest quarter, The investment management firm added 14,526 additional shares and now holds a total of 183,270 shares of PPG Industries which is valued at $16,970,802. PPG Industries makes up approx 0.14% of National Pension Service’s portfolio.Hefty Wealth Partners boosted its stake in PPG in the latest quarter, The investment management firm added 744 additional shares and now holds a total of 882 shares of PPG Industries which is valued at $89,594. PPG Industries makes up approx 0.07% of Hefty Wealth Partners’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.

PPG Industries opened for trading at $92.75 and hit $93.11 on the upside on Friday, eventually ending the session at $92.6, with a gain of 0.52% or 0.48 points. The heightened volatility saw the trading volume jump to 24,53,246 shares. Company has a market cap of $24,658 M.

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. Shares were Reiterated by RBC Capital Mkts on Oct 11, 2016 to “Outperform” and Lowered the Price Target to $ 106 from a previous price target of $125 .Shares were Downgraded by Deutsche Bank on Oct 11, 2016 to ” Hold” and Lowered the Price Target to $ 100 from a previous price target of $122 .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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