Peoples Bank National Association Lowers stake in PPG Industries (PPG)

PPG Industries (PPG) : Peoples Bank National Association reduced its stake in PPG Industries by 2.52% during the most recent quarter end. The investment management company now holds a total of 3,798 shares of PPG Industries which is valued at $394,954 after selling 98 shares in PPG Industries , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.PPG Industries makes up approximately 0.24% of Peoples Bank National Association’s portfolio.

Other Hedge Funds, Including , Luminus Management reduced its stake in PPG by selling 11,480 shares or 2.7% in the most recent quarter. The Hedge Fund company now holds 413,213 shares of PPG which is valued at $42,970,020. PPG Industries makes up approx 1.53% of Luminus Management’s portfolio. Bluemountain Capital Management sold out all of its stake in PPG during the most recent quarter. The investment firm sold 8,395 shares of PPG which is valued $872,996.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.

PPG Industries opened for trading at $106.02 and hit $106.3 on the upside on Thursday, eventually ending the session at $105.98, with a gain of 0.09% or 0.1 points. The heightened volatility saw the trading volume jump to 9,29,606 shares. Company has a market cap of $28,221 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. 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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