Burney Co. Sells 725 Shares of PPG Industries, Inc. (NYSE:PPG)

Burney Co. reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 10.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,029 shares of the specialty chemicals company’s stock after selling 725 shares during the period. Burney Co.’s holdings in PPG Industries were worth $759,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Connections Group Inc. bought a new position in shares of PPG Industries during the 2nd quarter worth approximately $25,000. Private Wealth Management Group LLC bought a new position in PPG Industries in the 4th quarter valued at $27,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of PPG Industries during the 4th quarter worth $29,000. LifeSteps Financial Inc. purchased a new position in shares of PPG Industries in the 1st quarter worth about $29,000. Finally, YHB Investment Advisors Inc. bought a new position in PPG Industries during the first quarter valued at about $29,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Up 0.9 %

NYSE PPG traded up $1.14 during mid-day trading on Thursday, reaching $128.78. The stock had a trading volume of 472,189 shares, compared to its average volume of 1,622,572. The company has a fifty day moving average price of $125.48 and a 200 day moving average price of $132.51. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The stock has a market cap of $30.20 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.65 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. PPG Industries’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 EPS. On average, research analysts expect that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.72 annualized dividend and a yield of 2.11%. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

Analysts Set New Price Targets

A number of research firms have issued reports on PPG. UBS Group raised their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. BMO Capital Markets dropped their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. KeyCorp reduced their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Barclays lowered their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Finally, Royal Bank of Canada reduced their target price on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

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.