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

Mattern Capital Management LLC raised its stake in PPG Industries, Inc. (NYSE:PPG) by 1.6% in the third quarter, HoldingsChannel reports. The fund owned 60,667 shares of the specialty chemicals company’s stock after purchasing an additional 950 shares during the period. Mattern Capital Management LLC’s holdings in PPG Industries were worth $8,036,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of PPG. Financial Connections Group Inc. acquired a new position in PPG Industries in the second quarter valued at approximately $25,000. Rothschild Investment LLC acquired a new position in PPG Industries in the second quarter valued at approximately $37,000. LRI Investments LLC lifted its holdings in PPG Industries by 463.8% in the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares during the period. Slocum Gordon & Co LLP raised its stake in shares of PPG Industries by 51.7% during the 2nd quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock worth $57,000 after buying an additional 155 shares during the period. Finally, DiNuzzo Private Wealth Inc. raised its stake in shares of PPG Industries by 103.6% during the 1st quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 203 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.6 %

Shares of NYSE:PPG opened at $126.45 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business has a fifty day moving average of $127.87 and a two-hundred day moving average of $128.63. The stock has a market cap of $29.65 billion, a P/E ratio of 21.36, a PEG ratio of 1.94 and a beta of 1.26. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.07 earnings per share. On average, research analysts expect that PPG Industries, Inc. will post 8.19 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 45.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Royal Bank of Canada reduced their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Bank of America reduced their target price 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. Mizuho reduced their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. UBS Group upped their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Barclays dropped their price target on 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. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.93.

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.