PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Mattern Capital Management LLC

Mattern Capital Management LLC boosted its position in PPG Industries, Inc. (NYSE:PPG) by 13.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,871 shares of the specialty chemicals company’s stock after buying an additional 8,204 shares during the quarter. Mattern Capital Management LLC’s holdings in PPG Industries were worth $8,227,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PPG. Insight Folios Inc increased its position in shares of PPG Industries by 3.8% in the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after purchasing an additional 81 shares during the last quarter. Alpha DNA Investment Management LLC lifted its stake in PPG Industries by 1.1% during the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after purchasing an additional 92 shares during the last quarter. Mutual Advisors LLC lifted its stake in PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after purchasing an additional 92 shares during the last quarter. Groupama Asset Managment lifted its stake in PPG Industries by 1.2% during the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after purchasing an additional 93 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG opened at $117.94 on Friday. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The firm has a fifty day simple moving average of $118.48 and a 200 day simple moving average of $123.25. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 2.17 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is presently 57.51%.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the subject of a number of research analyst reports. Citigroup cut their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Barclays decreased their target price on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries Company 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.