PPG Industries, Inc. (NYSE:PPG) Plans $0.68 Quarterly Dividend

PPG Industries, Inc. (NYSE:PPG) announced a quarterly dividend on Thursday, January 16th,RTT News reports. Investors of record on Friday, February 21st will be given a dividend of 0.68 per share by the specialty chemicals company on Thursday, March 27th. This represents a $2.72 annualized dividend and a yield of 2.30%.

PPG Industries has increased its dividend payment by an average of 5.6% per year over the last three years and has raised its dividend annually for the last 54 consecutive years. PPG Industries has a dividend payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect PPG Industries to earn $8.62 per share next year, which means the company should continue to be able to cover its $2.72 annual dividend with an expected future payout ratio of 31.6%.

PPG Industries Stock Up 0.7 %

PPG traded up $0.77 during trading on Thursday, hitting $118.34. 306,103 shares of the company’s stock were exchanged, compared to its average volume of 1,888,239. The stock has a market cap of $27.45 billion, a P/E ratio of 18.75, a PEG ratio of 1.77 and a beta of 1.24. The business’s 50 day moving average is $121.66 and its two-hundred day moving average is $124.91. PPG Industries has a fifty-two week low of $113.00 and a fifty-two week high of $145.86. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 EPS. As a group, equities analysts expect that PPG Industries will post 8.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PPG has been the topic of several analyst reports. Royal Bank of Canada cut their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Citigroup cut their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

Insider Activity at PPG Industries

In other 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 completion of the transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

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.