Is PPG Industries, Inc. (PPG) A Good Stock To Buy?

Consequently, key hedge funds have been driving this bullishness. Tourbillon Capital Partners, managed by Jason Karp, created the largest call position in PPG Industries, Inc. (NYSE:PPG). Tourbillon Capital Partners had $35.1 million invested in the company at the end of the quarter. Clint Carlson’s Carlson Capital also initiated a $30.6 million position during the quarter. The following funds were also among the new PPG investors: Jason Karp’s Tourbillon Capital Partners, Don Morgan’s Brigade Capital, and Clint Murray’s Lodge Hill Capital.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as PPG Industries, Inc. (NYSE:PPG) but similarly valued. We will take a look at McGraw Hill Financial Inc (NYSE:MHFI), Kellogg Company (NYSE:K), Chunghwa Telecom Co., Ltd (ADR) (NYSE:CHT), and The Allstate Corporation (NYSE:ALL). This group of stocks’ market values are closest to PPG’s market value.

As you can see these stocks had an average of 33.5 hedge funds with bullish positions and the average amount invested in these stocks was $1244 million. That figure was $1625 million in PPG’s case. McGraw Hill Financial Inc (NYSE:MHFI) is the most popular stock in this table. On the other hand Chunghwa Telecom Co., Ltd (ADR) (NYSE:CHT) is the least popular one with only 9 bullish hedge fund positions. PPG Industries, Inc. (NYSE:PPG) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MHFI might be a better candidate to consider a long position.