Shelton Capital Management buys $6,205,022 stake in PPG Industries (PPG)

PPG Industries (PPG) : Shelton Capital Management scooped up 6,600 additional shares in PPG Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 64,602 shares of PPG Industries which is valued at $6,205,022.PPG Industries makes up approximately 0.61% of Shelton Capital Management’s portfolio.

Other Hedge Funds, Including , Brown Brothers Harriman Co reduced its stake in PPG by selling 400 shares or 13.79% in the most recent quarter. The Hedge Fund company now holds 2,500 shares of PPG which is valued at $240,125.National Planning Corp reduced its stake in PPG by selling 52 shares or 1.06% in the most recent quarter. The Hedge Fund company now holds 4,868 shares of PPG which is valued at $471,563. PPG Industries makes up approx 0.04% of National Planning Corp’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in PPG in the latest quarter, The investment management firm added 5,375 additional shares and now holds a total of 45,572 shares of PPG Industries which is valued at $4,244,120. PPG Industries makes up approx 0.11% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Old Mutual Global Investors (uk) Ltd. reduced its stake in PPG by selling 386,285 shares or 99.94% in the most recent quarter. The Hedge Fund company now holds 233 shares of PPG which is valued at $21,699.Rathbone Brothers Plc boosted its stake in PPG in the latest quarter, The investment management firm added 26,240 additional shares and now holds a total of 31,425 shares of PPG Industries which is valued at $2,930,067. PPG Industries makes up approx 0.15% of Rathbone Brothers Plc’s portfolio.

PPG Industries closed down -1.42 points or -1.47% at $95.19 with 12,76,934 shares getting traded on Monday. Post opening the session at $96.23, the shares hit an intraday low of $95.12 and an intraday high of $96.23 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, PPG Industries reported $1.56 EPS for the quarter, based on the information available during the earnings call on Oct 20, 2016. Analyst had a consensus estimate of $1.56. The company had revenue of $3789.00 million for the quarter, compared to analysts expectations of $3794.04 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS.

Many Wall Street Analysts have commented on PPG Industries. PPG Industries was Downgraded by Argus to ” Hold” on Oct 25, 2016. PPG Industries was Downgraded by Goldman to ” Neutral” on Oct 21, 2016. 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 .

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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