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

PPG Industries, Inc. (NYSE:PPG) announced 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 dividend on an annualized basis and a dividend yield of 2.30%.

PPG Industries has raised its dividend payment by an average of 5.6% annually over the last three years and has raised its dividend annually for the last 54 consecutive years. PPG Industries has a payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities 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

PPG traded up $0.77 during midday trading on Thursday, hitting $118.34. The stock had a trading volume of 306,103 shares, compared to its average volume of 1,888,239. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries has a 1 year low of $113.00 and a 1 year high of $145.86. The business has a fifty day moving average of $121.66 and a 200 day moving average of $124.91. The company has a market cap of $27.45 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 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 company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the firm earned $2.07 earnings per share. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities analysts forecast that PPG Industries will post 8.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PPG has been the subject of several recent analyst reports. Royal Bank of Canada lowered 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 research note on Tuesday, October 22nd. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Citigroup cut their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Mizuho cut their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $149.29.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’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 transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.56% of the stock is currently 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.