PPG Industries, Inc. (NYSE:PPG) to Issue $0.71 Quarterly Dividend

PPG Industries, Inc. (NYSE:PPG) announced a quarterly dividend on Thursday, January 15th. Shareholders of record on Friday, February 20th will be given a dividend of 0.71 per share by the specialty chemicals company on Thursday, March 12th. This represents a c) annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, February 20th.

PPG Industries has increased its dividend payment 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 33.4% meaning its dividend is sufficiently covered by earnings. Analysts expect PPG Industries to earn $8.86 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 32.1%.

PPG Industries Stock Up 1.3%

PPG stock opened at $109.99 on Friday. PPG Industries has a 52-week low of $90.24 and a 52-week high of $124.74. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08. The firm has a market capitalization of $24.68 billion, a P/E ratio of 24.94, a P/E/G ratio of 3.23 and a beta of 1.17. The company’s 50 day simple moving average is $101.58 and its 200-day simple moving average is $105.95.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the company earned $2.13 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, equities research analysts anticipate that PPG Industries will post 7.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PPG shares. Berenberg Bank reduced their price target on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. BNP Paribas Exane decreased their target price on shares of PPG Industries from $113.00 to $112.00 and set a “neutral” rating for the company in a research note on Wednesday. Mizuho dropped their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Sanford C. Bernstein reduced their price objective on PPG Industries from $129.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. Finally, JPMorgan Chase & Co. upped their target price on PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, PPG Industries has a consensus rating of “Hold” and an average target price of $120.86.

PPG Industries Company Profile

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.