PPG Industries, Inc. (NYSE:PPG) declared a quarterly dividend on Wednesday, January 15th, RTT News reports. Investors of record on Tuesday, January 21st will be given a dividend of 0.51 per share by the specialty chemicals company on Thursday, March 12th. This represents a $2.04 annualized dividend and a yield of 1.61%.

PPG Industries has raised its dividend payment by an average of 9.4% per year over the last three years and has raised its dividend every year for the last 46 years. PPG Industries has a payout ratio of 32.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PPG Industries to earn $6.76 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 30.2%.

Shares of NYSE PPG traded down $3.76 during trading on Thursday, reaching $126.98. The company had a trading volume of 1,650,667 shares, compared to its average volume of 1,186,618. PPG Industries has a 52 week low of $100.87 and a 52 week high of $134.36. The stock has a market cap of $30.72 billion, a PE ratio of 21.45, a PEG ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.08 and a current ratio of 1.49. The business’s 50 day moving average price is $131.21 and its 200-day moving average price is $121.62.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 16th. The specialty chemicals company reported $1.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.03). The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a return on equity of 28.36% and a net margin of 8.00%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share. Equities analysts anticipate that PPG Industries will post 6.25 earnings per share for the current year.

A number of research firms recently issued reports on PPG. JPMorgan Chase & Co. upgraded PPG Industries from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $108.00 to $120.00 in a report on Friday, October 18th. Robert W. Baird boosted their target price on PPG Industries from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. UBS Group boosted their target price on PPG Industries from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Zacks Investment Research downgraded PPG Industries from a “hold” rating to a “sell” rating and set a $124.00 price target for the company. in a research report on Wednesday, October 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $130.00 price target on shares of PPG Industries in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $130.56.

In other PPG Industries news, CEO Michael H. Mcgarry sold 30,450 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $130.00, for a total value of $3,958,500.00. Following the completion of the transaction, the chief executive officer now owns 149,884 shares of the company’s stock, valued at approximately $19,484,920. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael H. Mcgarry sold 11,916 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $125.00, for a total value of $1,489,500.00. Following the completion of the transaction, the chief executive officer now directly owns 131,350 shares of the company’s stock, valued at approximately $16,418,750. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

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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Dividend History for PPG Industries (NYSE:PPG)

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