Mattern Capital Management LLC Increases Holdings in PPG Industries, Inc. (NYSE:PPG)

Mattern Capital Management LLC increased its stake in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 8.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,216 shares of the specialty chemicals company’s stock after buying an additional 4,231 shares during the quarter. Mattern Capital Management LLC’s holdings in PPG Industries were worth $7,167,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PPG. Vontobel Holding Ltd. raised its position in PPG Industries by 51.9% in the first quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock valued at $797,000 after purchasing an additional 2,048 shares during the period. Sei Investments Co. grew its stake in PPG Industries by 14.7% during the 1st quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock worth $3,099,000 after purchasing an additional 3,025 shares in the last quarter. Prudential PLC acquired a new position in PPG Industries during the 1st quarter worth $619,000. Vanguard Group Inc. grew its stake in PPG Industries by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock worth $2,645,019,000 after purchasing an additional 252,358 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its stake in PPG Industries by 7.1% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock worth $2,553,000 after purchasing an additional 1,283 shares in the last quarter. Hedge funds and other institutional investors own 79.18% of the company’s stock.

PPG Industries Stock Performance

PPG traded down $2.30 on Monday, hitting $137.79. 96,040 shares of the company traded hands, compared to its average volume of 1,757,803. The company has a 50 day moving average of $144.98 and a 200-day moving average of $138.09. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $32.49 billion, a PE ratio of 26.23, a PEG ratio of 1.38 and a beta of 1.30. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-month high of $152.89.

PPG Industries (NYSE:PPGGet Free Report) last posted its quarterly earnings data on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.49 by $0.04. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. PPG Industries had a return on equity of 23.79% and a net margin of 6.96%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 EPS. Sell-side analysts anticipate that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Thursday, February 15th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, February 15th. PPG Industries’s payout ratio is 48.69%.

Wall Street Analyst Weigh In

Several research firms recently commented on PPG. Royal Bank of Canada lowered their target price on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a research note on Monday, January 22nd. Redburn Atlantic cut PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Thursday. Robert W. Baird reaffirmed an “outperform” rating and set a $150.00 price objective on shares of PPG Industries in a research report on Friday, January 19th. KeyCorp upped their price objective on PPG Industries from $166.00 to $167.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Finally, Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.93.

Read Our Latest Report on PPG Industries

PPG Industries Profile

(Free Report)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

Further Reading

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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