PPG Industries, Inc. (NYSE:PPG) announced a quarterly dividend on Thursday, October 18th, RTT News reports. Investors of record on Monday, November 12th will be paid a dividend of 0.48 per share by the specialty chemicals company on Wednesday, December 12th. This represents a $1.92 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, November 8th.
PPG Industries has raised its dividend 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 31.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PPG Industries to earn $6.41 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 30.0%.
Shares of NYSE PPG opened at $106.91 on Friday. PPG Industries has a 1 year low of $94.37 and a 1 year high of $122.07. The firm has a market cap of $25.21 billion, a P/E ratio of 17.72, a PEG ratio of 2.17 and a beta of 1.36. The company has a current ratio of 1.71, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.45. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the prior year, the firm posted $1.52 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, research analysts anticipate that PPG Industries will post 5.81 EPS for the current year.
Several research firms have issued reports on PPG. ValuEngine raised shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Citigroup decreased their price objective on shares of PPG Industries from $123.00 to $113.00 and set a “neutral” rating on the stock in a report on Wednesday, July 11th. SunTrust Banks reaffirmed a “hold” rating and set a $110.00 price objective on shares of PPG Industries in a report on Friday, July 20th. Deutsche Bank increased their price objective on shares of PPG Industries from $114.00 to $120.00 and gave the company a “buy” rating in a report on Thursday. Finally, Credit Suisse Group decreased their price objective on shares of PPG Industries from $122.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $117.81.
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.
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