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

PPG Industries, Inc. (NYSE:PPG) announced a quarterly dividend on Thursday, April 17th, RTT News reports. Shareholders of record on Monday, May 12th will be paid a dividend of 0.68 per share by the specialty chemicals company on Thursday, June 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.72%.

PPG Industries has raised its dividend payment by an average of 5.6% annually over the last three years and has increased its dividend every year for the last 54 years. PPG Industries has a dividend payout ratio of 31.6% meaning its dividend is sufficiently covered by earnings. Equities 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 $2.72 annual dividend with an expected future payout ratio of 30.7%.

PPG Industries Stock Up 1.6 %

PPG Industries stock opened at $100.00 on Friday. The firm has a 50 day moving average price of $109.67 and a 200 day moving average price of $118.25. 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 fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a market capitalization of $22.70 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Research analysts expect that PPG Industries will post 7.95 earnings per share for the current year.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PPG Industries

A hedge fund recently raised its stake in PPG Industries stock. Brighton Jones LLC raised its stake in PPG Industries, Inc. (NYSE:PPG) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,075 shares of the specialty chemicals company’s stock after acquiring an additional 339 shares during the period. Brighton Jones LLC’s holdings in PPG Industries were worth $487,000 as of its most recent SEC filing. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PPG. The Goldman Sachs Group decreased their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Royal Bank of Canada cut their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Barclays restated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PPG Industries currently has a consensus rating of “Hold” and a consensus price target of $132.31.

About PPG Industries

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.