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

PPG Industries, Inc. (NYSE:PPG) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Stockholders 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 dividend yield of 2.28%.

PPG Industries has raised its dividend by an average of 5.6% per year over the last three years and has increased its dividend every year for the last 54 years. PPG Industries has a dividend payout ratio of 28.4% indicating that 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 Price Performance

Shares of PPG stock opened at $119.52 on Friday. The company has a market cap of $27.73 billion, a P/E ratio of 18.94, a PEG ratio of 1.77 and a beta of 1.24. 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 stock’s 50-day moving average is $121.50 and its 200 day moving average is $124.86. PPG Industries has a 1-year low of $113.00 and a 1-year high of $145.86.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $4.66 billion. During the same period in the previous year, the firm earned $2.07 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. Research analysts predict that PPG Industries will post 8.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PPG. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Royal Bank of Canada reduced 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. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. 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. Finally, Citigroup lowered 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 note on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.29.

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.