Citizens Financial Group Inc. RI Invests $1.39 Million in PPG Industries, Inc. $PPG

Key Points

• Citizens Financial Group acquired 11,468 shares of PPG Industries worth approximately $1.39 million during the second quarter. Institutional investors and hedge funds collectively own 81.86% of PPG.
• Analyst sentiment remains mixed, with seven Buy ratings and ten Hold ratings; the consensus rating is Hold with an average price target of $126, compared with PPG’s opening price of $112.82.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year, though earnings per share of $2.23 slightly missed estimates. The company also raised its quarterly dividend to $0.74 per share, equivalent to a 2.6% yield.

Citizens Financial Group Inc. RI acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,468 shares of the specialty chemicals company's stock, valued at approximately $1,391,000.

Other large investors have also added to or reduced their stakes in the company. Resources Management Corp CT ADV boosted its stake in shares of 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 last quarter. Quarry LP acquired a new stake in shares of PPG Industries in the third quarter valued at about $26,000. Aster Capital Management DIFC Ltd bought a new stake in PPG Industries during the fourth quarter worth about $30,000. Essential Partners LLC boosted its position in PPG Industries by 59.3% during the first quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 112 shares during the last quarter. Finally, DV Equities LLC acquired a new position in PPG Industries during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on PPG. BNP Paribas Exane boosted their price target on PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. JPMorgan Chase & Co. cut their price objective on PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Weiss Ratings raised shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. Bank of America raised shares of PPG Industries from a "neutral" rating to a "buy" rating and upped their price target for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. Finally, Citigroup cut their price target on shares of PPG Industries from $125.00 to $121.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, PPG Industries currently has an average rating of "Hold" and an average target price of $126.00.

PPG Industries Stock Performance

PPG opened at $112.82 on Wednesday. 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. The business has a 50 day moving average of $117.53 and a 200-day moving average of $114.05. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.66 and a beta of 1.07.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The business had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the firm posted $2.22 earnings per share. The firm's revenue was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts expect that PPG Industries, Inc. will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a $0.74 dividend. The ex-dividend date of this dividend 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 dividend yield of 2.6%. PPG Industries's payout ratio is currently 42.41%.

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.

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