Burney Co. Increases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Burney Co. boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,570 shares of the specialty chemicals company’s stock after buying an additional 280 shares during the quarter. Burney Co.’s holdings in PPG Industries were worth $665,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PPG. Legend Financial Advisors Inc. bought a new position in shares of PPG Industries during the fourth quarter valued at about $27,000. Pin Oak Investment Advisors Inc. increased its stake in PPG Industries by 465.1% in 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 last quarter. Capital Performance Advisors LLP bought a new position in shares of PPG Industries during the 3rd quarter worth approximately $34,000. Hara Capital LLC purchased a new position in shares of PPG Industries in the 3rd quarter worth approximately $40,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of PPG Industries in the third quarter valued at approximately $46,000. 81.86% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

PPG stock opened at $120.14 on Friday. The firm has a 50 day moving average of $121.37 and a 200-day moving average of $124.83. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $27.87 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. PPG Industries, Inc. has a 12 month low of $113.00 and a 12 month high of $145.86.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company posted $2.07 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that PPG Industries, Inc. will post 8.15 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.26%. PPG Industries’s payout ratio is currently 43.11%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PPG. Mizuho reduced their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada decreased their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Citigroup reduced their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $149.29.

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.