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

PPG Industries, Inc. (NYSE:PPG) declared a quarterly dividend on Thursday, October 15th. Shareholders of record on Tuesday, November 10th will be given 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 2.8%. The ex-dividend date is Tuesday, November 10th.

PPG Industries has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 54 consecutive years. PPG Industries has a dividend payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PPG Industries to earn $8.71 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 34.0%.

PPG Industries Stock Performance

Shares of NYSE PPG traded down $0.50 during trading hours on Friday, reaching $107.31. The stock had a trading volume of 3,865,346 shares, compared to its average volume of 1,772,494. The firm has a market cap of $23.86 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.75 and a beta of 1.06. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. PPG Industries has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The firm has a 50-day moving average of $108.94 and a 200-day moving average of $111.65.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). The firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities research analysts predict that PPG Industries will post 7.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PPG shares. Citigroup lowered their target price on shares of PPG Industries from $121.00 to $118.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th. Mizuho upped their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $136.00 price target on shares of PPG Industries in a research report on Thursday, September 24th. UBS Group decreased their price target on shares of PPG Industries from $125.00 to $116.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $128.00 price objective on shares of PPG Industries in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.12.

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company originally produced plate glass and later expanded into coatings and related technologies. Today, PPG’s products are used to protect, decorate and improve the performance of vehicles, aircraft, buildings, industrial equipment and consumer goods.

PPG serves the automotive, aerospace, construction, industrial, marine, packaging and consumer-product markets.