PPG Industries, Inc. (NYSE:PPG) declared a quarterly dividend on Thursday, October 15th, RTT News reports. Investors of record on Tuesday, November 10th will be paid a dividend of 0.54 per share by the specialty chemicals company on Friday, December 11th. This represents a $2.16 annualized dividend and a yield of 1.57%.
PPG Industries has raised its dividend payment by 26.9% over the last three years and has raised its dividend annually for the last 18 consecutive years.
Shares of NYSE PPG opened at $137.16 on Friday. PPG Industries has a 1-year low of $69.77 and a 1-year high of $138.39. The company has a market cap of $32.37 billion, a PE ratio of 32.58, a P/E/G ratio of 5.11 and a beta of 1.26. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $125.55 and a two-hundred day moving average of $107.95.
A number of brokerages have weighed in on PPG. JPMorgan Chase & Co. boosted their target price on shares of PPG Industries from $105.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Royal Bank of Canada boosted their target price on shares of PPG Industries from $141.00 to $144.00 and gave the stock an “outperform” rating in a research note on Friday, October 9th. Bank of America lifted their price target on shares of PPG Industries from $120.00 to $121.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. TheStreet upgraded shares of PPG Industries from a “c+” rating to a “b-” rating in a research report on Wednesday, August 26th. Finally, Morgan Stanley lifted their price target on shares of PPG Industries from $112.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. PPG Industries has an average rating of “Buy” and an average price target of $127.79.
In other news, EVP Timothy M. Knavish sold 15,300 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $120.69, for a total value of $1,846,557.00. 0.41% of the stock is owned by corporate insiders.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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