Burney Co. Reduces Stock Position in PPG Industries, Inc. (NYSE:PPG)

Burney Co. trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 10.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,029 shares of the specialty chemicals company’s stock after selling 725 shares during the quarter. Burney Co.’s holdings in PPG Industries were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Connections Group Inc. purchased a new position in PPG Industries during the 2nd quarter worth approximately $25,000. Private Wealth Management Group LLC acquired a new position in PPG Industries during the fourth quarter valued at $27,000. DiNuzzo Private Wealth Inc. purchased a new stake in PPG Industries in the fourth quarter valued at $29,000. LifeSteps Financial Inc. acquired a new stake in PPG Industries during the 1st quarter worth about $29,000. Finally, YHB Investment Advisors Inc. acquired a new stake in PPG Industries during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PPG. Bank of America lowered their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada lowered 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 note on Tuesday, July 23rd. KeyCorp cut their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Barclays lowered their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Finally, UBS Group upped their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Trading Up 0.9 %

PPG traded up $1.14 on Thursday, hitting $128.78. The company had a trading volume of 472,189 shares, compared to its average volume of 1,622,572. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The firm has a market cap of $30.20 billion, a P/E ratio of 21.75, a PEG ratio of 1.65 and a beta of 1.26. The company’s fifty day moving average price is $125.48 and its 200 day moving average price is $132.51. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16.

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

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, August 12th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a yield of 2.11%. PPG Industries’s dividend payout ratio is 45.95%.

PPG Industries Company Profile

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.