PPG Industries (PPG) to Issue Quarterly Dividend of $0.45

PPG Industries (NYSE:PPG) declared a quarterly dividend on Thursday, April 19th, RTT News reports. Shareholders of record on Thursday, May 10th will be given a dividend of 0.45 per share by the specialty chemicals company on Tuesday, June 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.62%.

PPG Industries has raised its dividend payment by an average of 9.1% annually over the last three years and has increased its dividend every year for the last 45 years. PPG Industries has a payout ratio of 30.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PPG Industries to earn $7.24 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 24.9%.

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PPG Industries stock traded down $1.92 during trading hours on Thursday, reaching $111.27. 486,713 shares of the company’s stock traded hands, compared to its average volume of 1,550,904. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. PPG Industries has a fifty-two week low of $100.45 and a fifty-two week high of $122.07. The company has a market cap of $28,256.50, a PE ratio of 18.96, a PEG ratio of 1.96 and a beta of 1.56.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same period in the prior year, the company posted $1.19 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. research analysts forecast that PPG Industries will post 6.54 EPS for the current year.

A number of analysts have recently commented on the company. Zacks Investment Research cut PPG Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Jefferies Group reaffirmed a “buy” rating and issued a $135.00 price target on shares of PPG Industries in a research note on Wednesday, January 3rd. Atlantic Securities cut PPG Industries from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 17th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $115.00 price target on shares of PPG Industries in a research note on Wednesday, January 17th. Finally, JPMorgan Chase reaffirmed a “neutral” rating and issued a $120.00 price target on shares of PPG Industries in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $124.71.

In related news, VP Jean-Marie Greindl sold 9,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the completion of the sale, the vice president now directly owns 27,685 shares of the company’s stock, valued at approximately $3,205,646.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

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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.

Dividend History for PPG Industries (NYSE:PPG)

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