PPG Industries, Inc. (NYSE:PPG) announced a quarterly dividend on Friday, January 18th, Wall Street Journal reports. Stockholders of record on Friday, February 22nd will be given a dividend of 0.48 per share by the specialty chemicals company on Tuesday, March 12th. This represents a $1.92 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, February 21st.
PPG Industries has raised its dividend payment by an average of 9.5% per year over the last three years and has increased its dividend every year for the last 46 years. PPG Industries has a dividend payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Analysts expect PPG Industries to earn $6.86 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 28.0%.
PPG Industries stock opened at $108.73 on Wednesday. The company has a market cap of $26.17 billion, a PE ratio of 18.37, a P/E/G ratio of 2.06 and a beta of 1.20. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 0.99. PPG Industries has a 1 year low of $94.37 and a 1 year high of $118.62.
A number of research analysts recently weighed in on PPG shares. Argus raised shares of PPG Industries to a “buy” rating and set a $136.00 target price for the company in a report on Thursday, December 20th. Citigroup raised shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 target price for the company in a report on Thursday, November 29th. Deutsche Bank raised their target price on shares of PPG Industries from $114.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, November 1st. Goldman Sachs Group raised shares of PPG Industries from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 29th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $115.00 target price on shares of PPG Industries in a report on Thursday, January 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $117.25.
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About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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