Stock Yards Bank Trust Co Lowers stake in PPG Industries (PPG)

PPG Industries (PPG) : Stock Yards Bank Trust Co reduced its stake in PPG Industries by 0.73% during the most recent quarter end. The investment management company now holds a total of 11,158 shares of PPG Industries which is valued at $1,033,231 after selling 82 shares in PPG Industries , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.PPG Industries makes up approximately 0.14% of Stock Yards Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Banced Corp added PPG to its portfolio by purchasing 2,258 company shares during the most recent quarter which is valued at $208,413. PPG Industries makes up approx 0.41% of Banced Corp’s portfolio.Addison Capital Co reduced its stake in PPG by selling 3,585 shares or 63.61% in the most recent quarter. The Hedge Fund company now holds 2,051 shares of PPG which is valued at $192,486. PPG Industries makes up approx 0.17% of Addison Capital Co’s portfolio.Telemus Capital reduced its stake in PPG by selling 3 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 2,799 shares of PPG which is valued at $284,322. PPG Industries makes up approx 0.03% of Telemus Capital’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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