Citizens Financial Group Inc. RI Reduces Holdings in PPG Industries, Inc. $PPG

Citizens Financial Group Inc. RI lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 23.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,292 shares of the specialty chemicals company’s stock after selling 5,424 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in PPG Industries were worth $1,818,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in PPG Industries in the third quarter valued at $688,000. Bayforest Capital Ltd raised its holdings in PPG Industries by 11.5% in the 3rd quarter. Bayforest Capital Ltd now owns 1,410 shares of the specialty chemicals company’s stock valued at $148,000 after buying an additional 145 shares during the period. Forum Financial Management LP lifted its position in PPG Industries by 127.5% in the third quarter. Forum Financial Management LP now owns 6,670 shares of the specialty chemicals company’s stock valued at $701,000 after buying an additional 3,738 shares during the last quarter. Kesler Norman & Wride LLC boosted its stake in PPG Industries by 27.5% during the third quarter. Kesler Norman & Wride LLC now owns 3,566 shares of the specialty chemicals company’s stock worth $375,000 after buying an additional 769 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of PPG Industries by 31.7% during the third quarter. Oregon Public Employees Retirement Fund now owns 25,796 shares of the specialty chemicals company’s stock valued at $2,711,000 after acquiring an additional 6,202 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Down 0.6%

Shares of NYSE PPG opened at $107.45 on Wednesday. The stock has a market cap of $24.11 billion, a P/E ratio of 24.37, a PEG ratio of 3.21 and a beta of 1.17. The business’s fifty day simple moving average is $101.04 and its 200-day simple moving average is $105.90. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $124.74. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, topping the consensus estimate of $2.09 by $0.04. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.PPG Industries’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, November 10th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 2.6%. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Citigroup raised their price target on PPG Industries from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Zacks Research cut PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. Finally, UBS Group lowered their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $122.54.

About PPG Industries

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.