Burney Co. Has $979,000 Holdings in PPG Industries, Inc. (NYSE:PPG)

Burney Co. lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 6.8% during the first quarter, HoldingsChannel reports. The fund owned 6,754 shares of the specialty chemicals company’s stock after selling 490 shares during the quarter. Burney Co.’s holdings in PPG Industries were worth $979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Barrett & Company Inc. raised its holdings in shares of PPG Industries by 10.6% in the 4th quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock worth $114,000 after acquiring an additional 73 shares during the last quarter. FinTrust Capital Advisors LLC grew its holdings in shares of PPG Industries by 38.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 76 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of PPG Industries by 0.9% during the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock valued at $1,204,000 after acquiring an additional 76 shares during the last quarter. Essex Financial Services Inc. lifted its holdings in PPG Industries by 0.6% during the first quarter. Essex Financial Services Inc. now owns 13,266 shares of the specialty chemicals company’s stock worth $1,922,000 after acquiring an additional 81 shares during the period. Finally, Gryphon Financial Partners LLC lifted its holdings in PPG Industries by 1.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock worth $727,000 after acquiring an additional 81 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Down 1.9 %

Shares of NYSE:PPG traded down $2.42 on Friday, reaching $123.46. 1,250,185 shares of the company traded hands, compared to its average volume of 1,674,963. The business’s 50-day simple moving average is $128.12 and its 200 day simple moving average is $134.93. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $151.16. The stock has a market capitalization of $28.80 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 1.70 and a beta of 1.26. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

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

PPG Industries announced that its Board of Directors has approved a stock buyback program on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be paid a $0.68 dividend. The ex-dividend date is Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.20%. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish bought 2,061 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average cost of $133.24 per share, with a total value of $274,607.64. Following the completion of the purchase, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,774,388.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PPG has been the topic of a number of recent analyst reports. UBS Group lifted their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft dropped their price target on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Barclays dropped their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Bank of America decreased their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target 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.