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

PPG Industries, Inc. (NYSE:PPG - Get Free Report) announced a quarterly dividend on Thursday, April 17th, RTT News reports. Investors of record on Monday, May 12th will be given 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 2.74%. The ex-dividend date of this dividend is Monday, May 12th.

PPG Industries has increased its dividend payment by an average of 5.6% per year 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% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.6 %

NYSE PPG traded down $0.60 on Monday, reaching $99.45. The company had a trading volume of 1,902,389 shares, compared to its average volume of 1,791,008. The stock has a market cap of $22.57 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.19 and a beta of 1.16. The stock's 50 day moving average is $109.37 and its 200-day moving average is $117.88. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries has a 52 week low of $90.24 and a 52 week high of $137.24.

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

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company's stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On PPG Industries

A hedge fund recently raised its stake in PPG Industries stock. Brighton Jones LLC lifted its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,075 shares of the specialty chemicals company's stock after buying an additional 339 shares during the quarter. Brighton Jones LLC's holdings in PPG Industries were worth $487,000 at the end of the most recent reporting period. Institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PPG shares. Mizuho lowered their price target on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. The Goldman Sachs Group dropped their target price on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Bank of America reiterated a "neutral" rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. cut PPG Industries from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $132.31.

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.