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

Mattern Capital Management LLC raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,717 shares of the specialty chemicals company’s stock after purchasing an additional 876 shares during the quarter. Mattern Capital Management LLC’s holdings in PPG Industries were worth $7,518,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Natixis Advisors L.P. raised its position in PPG Industries by 10.0% during the 4th quarter. Natixis Advisors L.P. now owns 89,706 shares of the specialty chemicals company’s stock valued at $13,415,000 after purchasing an additional 8,119 shares in the last quarter. National Bank of Canada FI lifted its stake in PPG Industries by 108.6% in the fourth quarter. National Bank of Canada FI now owns 105,451 shares of the specialty chemicals company’s stock worth $15,531,000 after acquiring an additional 54,903 shares during the period. Summit Trail Advisors LLC grew its holdings in PPG Industries by 26.1% during the 4th quarter. Summit Trail Advisors LLC now owns 2,098 shares of the specialty chemicals company’s stock worth $314,000 after acquiring an additional 434 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in PPG Industries by 1.9% during the 4th quarter. Maryland State Retirement & Pension System now owns 18,264 shares of the specialty chemicals company’s stock worth $2,731,000 after acquiring an additional 342 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its position in PPG Industries by 126.3% during the 4th quarter. Apollon Wealth Management LLC now owns 4,447 shares of the specialty chemicals company’s stock valued at $665,000 after purchasing an additional 2,482 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PPG shares. BMO Capital Markets reduced their price objective on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Bank of America decreased their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. KeyCorp cut their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Barclays decreased their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Finally, Citigroup cut their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Stock Down 1.0 %

Shares of PPG opened at $126.67 on Thursday. The stock has a fifty day simple moving average of $125.62 and a two-hundred day simple moving average of $132.04. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $29.70 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.02. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.25 earnings per share. As a group, equities analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is currently 45.95%.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, 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; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.