Citizens Financial Group Inc. RI Trims Position in PPG Industries, Inc. (NYSE:PPG)

Citizens Financial Group Inc. RI lowered its position in PPG Industries, Inc. (NYSE:PPG) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,934 shares of the specialty chemicals company’s stock after selling 3,360 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in PPG Industries were worth $2,620,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in PPG Industries in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. raised its position in shares of PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new position in PPG Industries in the third quarter valued at approximately $34,000. Albion Financial Group UT purchased a new position in PPG Industries in the fourth quarter worth approximately $38,000. Finally, Ashton Thomas Securities LLC purchased a new position in PPG Industries in the third quarter worth approximately $46,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PPG shares. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company dropped their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, PPG Industries currently has an average rating of “Hold” and a consensus price target of $138.15.

PPG Industries Stock Down 0.9 %

Shares of NYSE PPG opened at $113.61 on Wednesday. The stock has a market cap of $25.78 billion, a P/E ratio of 24.02, a PEG ratio of 2.19 and a beta of 1.22. The business’s fifty day simple moving average is $116.62 and its 200-day simple moving average is $122.58. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. PPG Industries’s dividend payout ratio is currently 57.51%.

About PPG Industries

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.