PPG Industries, Inc. Declares Quarterly Dividend of $0.59 (NYSE:PPG)

PPG Industries, Inc. (NYSE:PPGGet Rating) declared a quarterly dividend on Thursday, April 21st, RTT News reports. Shareholders of record on Tuesday, May 10th will be paid a dividend of 0.59 per share by the specialty chemicals company on Friday, June 10th. This represents a $2.36 dividend on an annualized basis and a yield of 1.75%.

PPG Industries has a dividend payout ratio of 26.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PPG Industries to earn $8.86 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 26.6%.

Shares of NYSE:PPG opened at $135.09 on Thursday. The company has a 50 day moving average price of $132.60 and a two-hundred day moving average price of $151.11. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.42. The company has a market capitalization of $31.90 billion, a PE ratio of 21.91, a PEG ratio of 1.59 and a beta of 1.22. PPG Industries has a 52 week low of $111.32 and a 52 week high of $182.97.

PPG Industries (NYSE:PPGGet Rating) last announced its earnings results on Thursday, January 20th. The specialty chemicals company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. PPG Industries had a net margin of 8.56% and a return on equity of 25.70%. The firm had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the company posted $1.59 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. On average, sell-side analysts forecast that PPG Industries will post 7.27 earnings per share for the current year.

PPG has been the topic of a number of research analyst reports. Jefferies Financial Group dropped their price target on PPG Industries from $170.00 to $130.00 and set a “hold” rating on the stock in a research note on Wednesday, March 9th. Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating and set a $138.00 price objective on the stock. in a research note on Friday, April 1st. BMO Capital Markets decreased their price target on PPG Industries from $199.00 to $181.00 and set an “outperform” rating on the stock in a research note on Monday, January 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PPG Industries from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, January 24th. Finally, Wells Fargo & Company reduced their price objective on PPG Industries from $170.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $173.44.

A number of hedge funds have recently added to or reduced their stakes in PPG. Weiss Multi Strategy Advisers LLC bought a new position in shares of PPG Industries during the 4th quarter valued at $1,607,000. Forum Financial Management LP bought a new stake in PPG Industries during the 4th quarter valued at $301,000. KB Financial Partners LLC purchased a new stake in PPG Industries during the 4th quarter valued at $30,000. EverSource Wealth Advisors LLC purchased a new position in shares of PPG Industries in the fourth quarter valued at about $36,000. Finally, EP Wealth Advisors LLC boosted its holdings in shares of PPG Industries by 34.7% during the fourth quarter. EP Wealth Advisors LLC now owns 2,801 shares of the specialty chemicals company’s stock worth $483,000 after purchasing an additional 722 shares during the period. 78.95% of the stock is owned by institutional investors and hedge funds.

PPG Industries Company Profile (Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Dividend History for PPG Industries (NYSE:PPG)

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