PPG Industries, Inc. (PPG) to Issue $0.45 Quarterly Dividend
PPG Industries, Inc. (NYSE:PPG) declared a quarterly dividend on Thursday, October 19th, RTT News reports. Investors of record on Friday, November 10th will be given a dividend of 0.45 per share by the specialty chemicals company on Tuesday, December 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.57%.
PPG Industries has increased its dividend by an average of 8.8% annually over the last three years and has raised its dividend annually for the last 44 consecutive years. PPG Industries has a payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PPG Industries to earn $6.75 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 26.7%.
PPG Industries (PPG) traded up 1.27% on Thursday, reaching $114.31. The company had a trading volume of 2,019,485 shares. The stock has a market capitalization of $29.32 billion, a P/E ratio of 30.07 and a beta of 1.55. PPG Industries has a 1-year low of $89.64 and a 1-year high of $115.36. The stock’s 50 day moving average is $108.81 and its 200-day moving average is $107.84.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 18th. The specialty chemicals company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.17). PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same period in the previous year, the business posted $1.56 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts predict that PPG Industries will post $5.97 EPS for the current fiscal year.
In related news, VP Glenn E. Bost II sold 19,812 shares of PPG Industries stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the transaction, the vice president now owns 52,748 shares in the company, valued at $5,316,998.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Viktoras R. Sekmakas sold 18,616 shares of PPG Industries stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $102.49, for a total value of $1,907,953.84. Following the transaction, the insider now owns 15,545 shares in the company, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
Several analysts have commented on PPG shares. Jefferies Group LLC reissued a “buy” rating and issued a $120.00 price objective on shares of PPG Industries in a report on Thursday, July 6th. Argus raised PPG Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from $110.61 to $136.00 in a report on Wednesday, July 5th. BidaskClub raised PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Credit Suisse Group set a $113.00 price objective on PPG Industries and gave the company a “buy” rating in a report on Sunday, July 23rd. Finally, Robert W. Baird reissued a “buy” rating and issued a $115.00 price objective on shares of PPG Industries in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $115.67.
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About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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