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

PPG Industries, Inc. (NYSE:PPG) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Investors 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 dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 9th.

PPG Industries has increased its dividend 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 dividend payout ratio of 27.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PPG Industries to earn $9.33 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 27.9%.

PPG Industries Stock Down 3.1 %

NYSE PPG opened at $130.92 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The firm has a 50-day simple moving average of $140.36 and a 200 day simple moving average of $138.88. PPG Industries has a twelve month low of $120.32 and a twelve month high of $152.89. The stock has a market cap of $30.81 billion, a PE ratio of 22.11, a PEG ratio of 1.61 and a beta of 1.28.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting the consensus estimate of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 23.13%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the company earned $1.82 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. On average, research analysts forecast that PPG Industries will post 8.46 EPS for the current year.

Insider Activity

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of PPG Industries in the second quarter valued at approximately $29,000. Harbour Investments Inc. increased its holdings in shares of PPG Industries by 84.9% in the first quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 101 shares in the last quarter. Clear Street Markets LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $30,000. Parkside Financial Bank & Trust increased its holdings in shares of PPG Industries by 45.8% in the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 87 shares in the last quarter. Finally, Achmea Investment Management B.V. acquired a new stake in shares of PPG Industries in the first quarter valued at approximately $40,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. KeyCorp reduced their target price on shares of PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Vertical Research upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Wells Fargo & Company upgraded shares of PPG Industries from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $150.00 to $163.00 in a research note on Thursday, April 11th. Robert W. Baird restated an “outperform” rating and set a $150.00 price target on shares of PPG Industries in a research note on Friday, January 19th. Finally, Citigroup cut their price target on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PPG Industries presently has an average rating of “Hold” and an average target price of $158.00.

About PPG Industries

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.