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

PPG Industries, Inc. (NYSE:PPG - Get Free Report) declared a quarterly dividend on Thursday, October 17th, RTT News reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.68 per share by the specialty chemicals company on Thursday, December 12th. This represents a $2.72 annualized dividend and a yield of 2.07%.

PPG Industries has increased its dividend payment by an average of 6.6% annually over the last three years and has raised its dividend every year for the last 54 years. PPG Industries has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect PPG Industries to earn $9.15 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 29.7%.

PPG Industries Price Performance

Shares of NYSE PPG traded up $0.98 on Thursday, hitting $131.34. The company's stock had a trading volume of 2,104,948 shares, compared to its average volume of 1,598,746. PPG Industries has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a market capitalization of $30.80 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The stock has a 50 day moving average of $126.97 and a 200-day moving average of $129.27.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business had revenue of $4.58 billion during the quarter, compared to analysts' expectations of $4.66 billion. During the same period last year, the company earned $2.07 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts predict that PPG Industries will post 8.24 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PPG shares. UBS Group upped their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, July 19th. Bank of America reduced their price objective on shares of PPG Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, July 22nd. Mizuho reduced their price objective on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a research note on Thursday. 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. Finally, Royal Bank of Canada reduced their price objective on shares of PPG Industries from $140.00 to $139.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.00.

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.