PPG Industries, Inc. (NYSE:PPG) announced a quarterly dividend on Thursday, October 15th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 1.57%.
PPG Industries has raised its dividend by 26.9% over the last three years and has increased its dividend annually for the last 18 consecutive years.
Shares of PPG opened at $137.16 on Friday. PPG Industries has a twelve month low of $69.77 and a twelve month high of $138.39. The stock’s 50 day moving average is $125.55 and its two-hundred day moving average is $107.95. The firm has a market capitalization 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.
In other PPG Industries news, EVP Timothy M. Knavish sold 15,300 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $120.69, for a total value of $1,846,557.00. Corporate insiders own 0.41% of the company’s stock.
PPG has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PPG Industries from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 9th. Wells Fargo & Company lifted their price target on shares of PPG Industries from $124.00 to $137.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Royal Bank of Canada lifted their price target on shares of PPG Industries from $141.00 to $144.00 and gave the company an “outperform” rating in a research report on Friday, October 9th. Zacks Investment Research upgraded shares of PPG Industries from a “hold” rating to a “strong-buy” rating and set a $144.00 price target for the company in a research report on Tuesday. Finally, Credit Suisse Group lifted their price target on shares of PPG Industries from $111.00 to $114.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $127.79.
PPG Industries Company Profile
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.
Recommended Story: Outperform Rating
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.