Mattern Capital Management LLC Has $8.23 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Mattern Capital Management LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,871 shares of the specialty chemicals company's stock after purchasing 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 reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PPG. Legend Financial Advisors Inc. bought a new position in PPG Industries in the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new position in PPG Industries during the 3rd quarter worth $34,000. Hara Capital LLC acquired a new stake in PPG Industries in the third quarter worth $40,000. Finally, Albion Financial Group UT bought a new stake in PPG Industries in the fourth quarter valued at $38,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PPG has been the subject of several recent research reports. UBS Group lowered their price target on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. The Goldman Sachs Group dropped their price target on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada reduced their price objective on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 4th. KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $138.15.

PPG Industries Stock Up 0.3 %

PPG stock traded up $0.32 during midday trading on Tuesday, reaching $113.85. The company had a trading volume of 984,770 shares, compared to its average volume of 2,049,604. The company has a 50 day moving average of $118.11 and a two-hundred day moving average of $123.24. The company has a market capitalization of $25.84 billion, a P/E ratio of 24.08, a PEG ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. 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 - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.39%. PPG Industries's dividend payout ratio (DPR) is currently 57.51%.

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.56% of the stock is currently owned by company insiders.

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.