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

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 paid 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 2.17%. The ex-dividend date is Tuesday, November 12th.

PPG Industries has increased its dividend by an average of 6.6% annually 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 30.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PPG Industries to earn $8.90 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 30.6%.

PPG Industries Stock Performance

PPG opened at $125.52 on Monday. PPG Industries has a twelve month low of $118.07 and a twelve month high of $151.16. The firm has a market capitalization of $29.12 billion, a PE ratio of 19.89, a PEG ratio of 1.92 and a beta of 1.26. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $127.72 and its 200 day moving average price is $128.03.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the firm earned $2.07 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that PPG Industries will post 8.18 EPS for the current fiscal year.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction 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 transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PPG shares. UBS Group lifted their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Citigroup lowered their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada reduced their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Finally, KeyCorp lowered their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

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.