PPG Industries, Inc. (NYSE:PPG) Declares Dividend Increase – $0.68 Per Share

PPG Industries, Inc. (NYSE:PPG) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Shareholders of record on Monday, August 12th will be given a dividend of 0.68 per share by the specialty chemicals company on Thursday, September 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, August 12th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65.

PPG Industries has raised its dividend by an average of 6.6% annually over the last three years and has increased its dividend every year for the last 54 years. PPG Industries has a payout ratio of 29.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PPG Industries to earn $9.18 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 29.6%.

PPG Industries Stock Performance

Shares of PPG stock opened at $119.24 on Friday. PPG Industries has a 52 week low of $118.07 and a 52 week high of $151.16. The company has a market capitalization of $27.82 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.60 and a beta of 1.26. The company has a 50-day simple moving average of $127.05 and a 200 day simple moving average of $134.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.25 earnings per share. On average, sell-side analysts predict that PPG Industries will post 8.25 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on PPG. StockNews.com upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Bank of America cut their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Barclays cut their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Seaport Res Ptn raised PPG Industries from a “neutral” rating to a “buy” rating in a research note on Monday, April 22nd. Finally, BMO Capital Markets reduced their price objective on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries announced that its board has authorized a share buyback program on Thursday, April 18th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

PPG Industries Company Profile

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.