Mattern Capital Management LLC Decreases Stake in PPG Industries, Inc. $PPG

Mattern Capital Management LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 6.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 75,679 shares of the specialty chemicals company’s stock after selling 4,938 shares during the period. Mattern Capital Management LLC’s holdings in PPG Industries were worth $8,089,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Pzena Investment Management LLC raised its stake in shares of PPG Industries by 306.2% in the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock valued at $727,340,000 after acquiring an additional 5,351,103 shares during the period. Franklin Resources Inc. increased its holdings in PPG Industries by 48.9% in the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after purchasing an additional 2,295,118 shares in the last quarter. Norges Bank purchased a new position in PPG Industries in the fourth quarter valued at about $209,355,000. Bank of Montreal Can raised its position in PPG Industries by 254.9% in the fourth quarter. Bank of Montreal Can now owns 1,334,707 shares of the specialty chemicals company’s stock valued at $136,754,000 after purchasing an additional 958,580 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of PPG Industries during the fourth quarter worth about $66,610,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Down 2.5%

NYSE PPG opened at $113.85 on Tuesday. The company has a market capitalization of $25.38 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The company’s fifty day moving average price is $114.19 and its two-hundred day moving average price is $112.57.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts predict that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, May 11th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s dividend payout ratio is currently 40.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PPG. Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Citigroup upped their price target on PPG Industries from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Wells Fargo & Company dropped their price objective on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Six analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $124.93.

PPG Industries Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.