PPG Industries, Inc. (PPG) to Distribute Quarterly Dividend of $0.74 on December 11th

PPG Industries, Inc. (NYSE:PPG) announced a quarterly dividend on Thursday, October 15th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.74 per share by the specialty chemicals company on Friday, December 11th. This represents a $2.96 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, November 10th.

PPG Industries has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 54 consecutive years. PPG Industries has a payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PPG Industries to earn $8.68 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 34.1%.

PPG Industries Trading Down 0.6%

PPG opened at $122.51 on Friday. The firm has a market capitalization of $27.06 billion, a P/E ratio of 17.50, a P/E/G ratio of 2.11 and a beta of 1.00. The firm’s 50 day moving average is $109.79 and its 200-day moving average is $112.85. PPG Industries has a 52-week low of $93.39 and a 52-week high of $133.43. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.71.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.13. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.28 billion. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 earnings per share. Analysts expect that PPG Industries will post 7.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PPG shares. Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $137.00 target price on shares of PPG Industries in a research report on Thursday, October 29th. Citigroup boosted their price target on PPG Industries from $118.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and increased their price target for the company from $127.00 to $134.00 in a report on Friday, July 17th. Finally, Royal Bank Of Canada raised their price objective on PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.29.

About PPG Industries

PPG Industries, Inc is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania.

PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.

The company serves customers in markets around the world, including through operations in the Americas, Europe, the Middle East, Africa and Asia Pacific.