PPG Industries, Inc. (PPG) To Go Ex-Dividend on May 9th

PPG Industries, Inc. (NYSE:PPG) declared a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.65 per share by the specialty chemicals company on Wednesday, June 12th. This represents a $2.60 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, May 9th.

PPG Industries has raised its dividend payment by an average of 6.6% per year over the last three years and has increased its dividend every year for the last 53 years. PPG Industries has a payout ratio of 27.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect PPG Industries to earn $9.40 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 27.7%.

PPG Industries Trading Up 0.1 %

NYSE:PPG opened at $133.04 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73. PPG Industries has a 1-year low of $120.32 and a 1-year high of $152.89. The firm has a market capitalization of $31.20 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.65 and a beta of 1.30. The stock has a fifty day simple moving average of $137.97 and a 200 day simple moving average of $139.08.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.82 EPS. Sell-side analysts forecast that PPG Industries will post 8.45 earnings per share for the current year.

PPG Industries declared that its board has authorized a stock buyback plan on Thursday, April 18th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

PPG has been the topic of several research reports. Robert W. Baird reiterated an “outperform” rating and issued a $150.00 price objective on shares of PPG Industries in a research note on Friday, January 19th. Redburn Atlantic lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. UBS Group cut their price objective on PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 19th. StockNews.com upgraded PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Finally, BMO Capital Markets cut their price objective on PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.47.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.56% of the company’s stock.

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.