PPG Industries, Inc. (PPG) To Go Ex-Dividend on August 10th

PPG Industries, Inc. (NYSE:PPG) announced a quarterly dividend on Thursday, July 16th. Shareholders of record on Monday, August 10th will be given a dividend of 0.74 per share by the specialty chemicals company on Friday, September 11th. This represents a c) dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, August 10th. This is a 4.2% increase from PPG Industries’s previous quarterly dividend of $0.71.

PPG Industries has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 54 consecutive years. PPG Industries has a payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PPG Industries to earn $8.70 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 34.0%.

PPG Industries Stock Up 2.2%

PPG Industries stock opened at $119.73 on Friday. The firm has a market cap of $26.62 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.70 and a beta of 1.07. PPG Industries has a 52-week low of $93.39 and a 52-week high of $133.43. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The firm has a 50 day moving average price of $117.37 and a two-hundred day moving average price of $113.91.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The firm had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the company posted $2.22 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities analysts predict that PPG Industries will post 7.89 EPS for the current year.

Hedge Funds Weigh In On PPG Industries

A number of large investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in PPG Industries during the 2nd quarter valued at $2,856,392,000. State Street Corp lifted its stake in shares of PPG Industries by 4.6% in the fourth quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock valued at $1,314,529,000 after buying an additional 565,523 shares in the last quarter. Pzena Investment Management LLC acquired a new position in shares of PPG Industries during the second quarter valued at about $946,964,000. Franklin Resources Inc. grew its holdings in shares of PPG Industries by 48.9% during the fourth quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after buying an additional 2,295,118 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of PPG Industries by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock worth $644,537,000 after acquiring an additional 26,793 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

About PPG Industries

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.