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

PPG Industries, Inc. (NYSE:PPG) announced a quarterly dividend on Thursday, October 17th, RTT News reports. Stockholders of record on Tuesday, November 12th will be given a dividend of 0.68 per share by the specialty chemicals company on Thursday, December 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.07%.

PPG Industries has increased its dividend by an average of 6.6% per year over the last three years and has raised its dividend annually for the last 54 consecutive years. PPG Industries has a payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect PPG Industries to earn $9.15 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 29.7%.

PPG Industries Price Performance

NYSE:PPG opened at $131.34 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $126.97 and its 200 day moving average price is $129.27. PPG Industries has a 52-week low of $118.07 and a 52-week high of $151.16. The firm has a market cap of $30.80 billion, a P/E ratio of 22.19, a PEG ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $2.07 earnings per share. As a group, sell-side analysts predict that PPG Industries will post 8.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PPG. KeyCorp dropped their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets cut their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. 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 report on Friday, July 19th. Barclays cut their target price 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. Finally, Bank of America decreased their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $151.00.

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.