Mattern Capital Management LLC Raises Stock Position in PPG Industries, Inc. $PPG

Mattern Capital Management LLC lifted its position in PPG Industries, Inc. (NYSE:PPG) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,206 shares of the specialty chemicals company’s stock after buying an additional 2,329 shares during the period. Mattern Capital Management LLC’s holdings in PPG Industries were worth $8,327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cromwell Holdings LLC grew its position in shares of PPG Industries by 39.7% in the 2nd quarter. Cromwell Holdings LLC now owns 549 shares of the specialty chemicals company’s stock worth $62,000 after buying an additional 156 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of PPG Industries by 12.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,329 shares of the specialty chemicals company’s stock worth $4,360,000 after buying an additional 4,164 shares during the last quarter. Jmac Enterprises LLC grew its position in shares of PPG Industries by 5.9% in the 2nd quarter. Jmac Enterprises LLC now owns 7,200 shares of the specialty chemicals company’s stock worth $819,000 after buying an additional 400 shares during the last quarter. ASR Vermogensbeheer N.V. grew its position in shares of PPG Industries by 0.6% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 292,224 shares of the specialty chemicals company’s stock worth $33,240,000 after buying an additional 1,840 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of PPG Industries by 12.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 242,572 shares of the specialty chemicals company’s stock worth $27,593,000 after buying an additional 26,876 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.4%

PPG stock opened at $104.46 on Friday. The firm has a 50 day moving average of $109.06 and a 200 day moving average of $109.51. The stock has a market capitalization of $23.58 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 2.16 and a beta of 1.16. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $132.18.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the previous year, the business posted $2.50 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, August 11th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s dividend payout ratio (DPR) is presently 64.40%.

Analysts Set New Price Targets

PPG has been the topic of a number of analyst reports. Mizuho lifted their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Royal Bank Of Canada lifted their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. Wells Fargo & Company lifted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. UBS Group lifted their target price on shares of PPG Industries from $111.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. Finally, Citigroup lifted their target price on shares of PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus target price of $129.82.

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.