PPG Industries, Inc. $PPG Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 6.1% during the first quarter, Holdings Channel reports. 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CNB Bank lifted its stake in PPG Industries by 1.8% in the fourth quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company’s stock valued at $463,000 after buying an additional 80 shares during the last quarter. IFP Advisors Inc boosted its stake in PPG Industries by 2.7% during the 4th quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company’s stock valued at $338,000 after purchasing an additional 87 shares during the period. Whittier Trust Co. increased its stake in shares of PPG Industries by 1.4% in the fourth quarter. Whittier Trust Co. now owns 6,658 shares of the specialty chemicals company’s stock valued at $703,000 after purchasing an additional 89 shares during the period. Evolve Private Wealth LLC boosted its position in shares of PPG Industries by 3.2% during the first quarter. Evolve Private Wealth LLC now owns 2,929 shares of the specialty chemicals company’s stock worth $313,000 after buying an additional 92 shares during the period. Finally, Insigneo Advisory Services LLC grew its holdings in PPG Industries by 4.3% in the 4th quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $229,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Down 2.5%

NYSE PPG opened at $113.85 on Tuesday. The company has a market capitalization of $25.38 billion, a P/E ratio of 16.24, a PEG ratio of 1.70 and a beta of 1.05. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. The company’s 50 day simple moving average is $114.19 and its 200 day simple moving average is $112.57.

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

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, May 11th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, May 11th. PPG Industries’s dividend payout ratio (DPR) is presently 40.51%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PPG shares. Deutsche Bank Aktiengesellschaft increased their price target on PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Mizuho boosted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. BMO Capital Markets reduced their price target on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a research note on Monday, July 6th. JPMorgan Chase & Co. dropped their target price on PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Finally, The Goldman Sachs Group cut their target price on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $124.93.

PPG Industries Company 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.