Citizens Financial Group Inc. RI Has $2.47 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Citizens Financial Group Inc. RI lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,609 shares of the specialty chemicals company’s stock after purchasing an additional 675 shares during the period. Citizens Financial Group Inc. RI’s holdings in PPG Industries were worth $2,472,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PPG. Envestnet Asset Management Inc. increased its position in PPG Industries by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock worth $27,311,000 after purchasing an additional 1,697 shares during the period. Clear Creek Financial Management LLC acquired a new position in PPG Industries in the first quarter valued at approximately $240,000. Principal Financial Group Inc. boosted its stake in PPG Industries by 4.4% in the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock valued at $33,129,000 after acquiring an additional 12,650 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in PPG Industries by 966.3% during the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company’s stock worth $97,000 after acquiring an additional 802 shares during the period. Finally, Revisor Wealth Management LLC raised its position in shares of PPG Industries by 95.8% during the 1st quarter. Revisor Wealth Management LLC now owns 4,435 shares of the specialty chemicals company’s stock valued at $485,000 after acquiring an additional 2,170 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PPG. JPMorgan Chase & Co. cut their target price on PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company boosted their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Citigroup increased their target price on shares of PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Royal Bank Of Canada lifted their price target 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. Finally, Bank of America restated a “neutral” rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.82.

PPG Industries Trading Down 0.2%

PPG opened at $105.82 on Thursday. The stock has a market capitalization of $23.88 billion, a P/E ratio of 23.99, a P/E/G ratio of 2.19 and a beta of 1.17. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The firm’s fifty day simple moving average is $112.73 and its 200 day simple moving average is $111.52.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting analysts’ consensus estimates of $2.22. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.50 earnings per share. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. PPG Industries’s payout ratio is currently 61.68%.

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.