4,598 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Ames National Corp

Ames National Corp bought a new position in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, Holdings Channel reports. The fund bought 4,598 shares of the specialty chemicals company’s stock, valued at approximately $549,000.

Several other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in PPG Industries during the 4th quarter valued at approximately $470,535,000. Kovitz Investment Group Partners LLC boosted its position in PPG Industries by 482.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock valued at $518,132,000 after acquiring an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in PPG Industries by 815.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company’s stock valued at $362,074,000 after acquiring an additional 2,700,018 shares in the last quarter. First Eagle Investment Management LLC boosted its position in PPG Industries by 138.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock valued at $381,876,000 after acquiring an additional 1,858,895 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock valued at $1,262,234,000 after acquiring an additional 1,590,041 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup cut their price objective on PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft boosted their price target on PPG Industries from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Mizuho dropped their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Bank of America reissued a “neutral” rating and issued a $126.00 price target (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.42.

PPG Industries Trading Down 0.5%

Shares of PPG Industries stock opened at $113.69 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a fifty day moving average price of $106.54 and a 200 day moving average price of $114.98. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The stock has a market cap of $25.81 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the previous year, the company earned $1.87 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. PPG Industries’s payout ratio is presently 58.24%.

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.