PPG Industries, Inc. Announces Quarterly Dividend of $0.71 (NYSE:PPG)

Key Points

• PPG Industries, Inc. has announced a quarterly dividend of $0.71 per share, payable on December 12th to shareholders of record on November 10th, resulting in a dividend yield of 2.8%.
• The company's payout ratio is currently 32.0%, indicating that its dividend is well-supported by earnings, with expected earnings of $8.86 per share next year.
• PPG Industries' stock price has shown positive movement, up 1.4%, with a market capitalization of $22.78 billion and a PE ratio of 22.89.

PPG Industries, Inc. (NYSE:PPG - Get Free Report) announced a quarterly dividend on Thursday, October 16th. Shareholders of record on Monday, November 10th will be paid a dividend of 0.71 per share by the specialty chemicals company on Friday, December 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, November 10th.

PPG Industries has a payout ratio of 32.0% 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 $2.72 annual dividend with an expected future payout ratio of 30.7%.

PPG Industries Stock Up 1.4%

Shares of PPG opened at $100.95 on Friday. The stock has a fifty day simple moving average of $107.60 and a two-hundred day simple moving average of $108.81. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $22.78 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 2.09 and a beta of 1.16. PPG Industries has a 52-week low of $90.24 and a 52-week high of $132.18.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, equities analysts forecast that PPG Industries will post 7.95 EPS for the current year.

Hedge Funds Weigh In On PPG Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Apollon Wealth Management LLC lifted its stake in PPG Industries by 27.0% during the third quarter. Apollon Wealth Management LLC now owns 3,858 shares of the specialty chemicals company's stock worth $406,000 after purchasing an additional 821 shares during the last quarter. Bill Few Associates Inc. lifted its stake in PPG Industries by 6.3% during the third quarter. Bill Few Associates Inc. now owns 9,408 shares of the specialty chemicals company's stock worth $989,000 after purchasing an additional 560 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in PPG Industries by 22.2% during the third quarter. HBK Sorce Advisory LLC now owns 2,363 shares of the specialty chemicals company's stock worth $240,000 after purchasing an additional 430 shares during the last quarter. Blue Trust Inc. lifted its stake in PPG Industries by 18.4% during the third quarter. Blue Trust Inc. now owns 1,100 shares of the specialty chemicals company's stock worth $116,000 after purchasing an additional 171 shares during the last quarter. Finally, Avanza Fonder AB lifted its stake in PPG Industries by 30.4% during the third quarter. Avanza Fonder AB now owns 25,313 shares of the specialty chemicals company's stock worth $2,661,000 after purchasing an additional 5,906 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

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.

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