Citizens Financial Group Inc. RI purchased a new stake in PPG Industries, Inc. (NYSE:PPG – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,468 shares of the specialty chemicals company’s stock, valued at approximately $1,391,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PPG. Resources Management Corp CT ADV increased its position in PPG Industries by 900.0% during the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 225 shares during the period. Quarry LP bought a new stake in shares of PPG Industries in the third quarter valued at about $26,000. Aster Capital Management DIFC Ltd acquired a new position in shares of PPG Industries in the fourth quarter valued at about $30,000. Essential Partners LLC grew its stake in shares of PPG Industries by 59.3% in the first quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 112 shares in the last quarter. Finally, DV Equities LLC bought a new position in PPG Industries during the fourth quarter worth about $32,000. 81.86% of the stock is owned by institutional investors and hedge funds.
PPG Industries Price Performance
PPG stock opened at $112.82 on Wednesday. The company’s 50-day moving average price is $117.53 and its two-hundred day moving average price is $114.05. The firm has a market cap of $25.08 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.66 and a beta of 1.07. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43.
PPG Industries Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.74 per share. The ex-dividend date is Monday, August 10th. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 2.6%. PPG Industries’s dividend payout ratio is currently 42.41%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the stock. Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Royal Bank Of Canada dropped their price target on shares of PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. UBS Group cut their price target on PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. lowered their price objective on PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $126.00.
Check Out Our Latest Stock Analysis on PPG Industries
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.
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