PPG Industries to announce dividend increase

What's Happening With PPG View more about PPG >

Specialty chemicals company PPG Industries (PPG) will likely announce a dividend increase this week. The stock has been trending sharply higher over the last two months, and shares have currently appreciated 16.3% on the year.

Technical Analysis

PPG was recently trading at $114.97, $3.72 below its 12-month high and $32.04 above its 12-month low. Technical indicators for PPG are bullish and the stock is in a strong upward trend. The stock has recent support above $110.10 and is trading above recent resistance. Of the 14 analysts who cover the stock, 10 rate it a “strong buy”, two rate it a “buy”, and two rate it a “hold”. The stock receives S&P Capital IQ’s 4 STARS “Buy” ranking.

Analysts' Thoughts

PPG is a true dividend aristocrat, with a 43-year streak of dividend increases. The company has a 23.0% payout ratio, so the company can easily afford another increase this year. Last year, the company boosted its dividend by 7.5%, and in the previous year it lifted its payout by 9.8%. The stock currently pays a quarterly dividend of $0.36, which I expect to rise to around $0.39, for an increase of 8.3%. Look for the announcement to be made this week, with the stock trading ex-dividend during the first week of May.

PPG
About PPG Industries Inc.

PPG is a global producer of coatings. The company is the world's largest producer of coatings after the purchase of selected AkzoNobel assets. PPG's products are sold to a wide variety of end users, including the automotive, aerospace, construction, and industrial markets. The company has a footprint in many regions around the globe, with less than half of sales coming from North America in recent years. PPG is focused on its coatings and specialty products and expansion into emerging regions, as exemplified by the Comex acquisition.

  • Last Price:
    $117.21
  • Previous Close:
    $119.17
  • Change:
    $-1.96 (-1.64%)
  • Open:
    $118.58
  • Volume:
    1,167,151
  • Average Volume (100 Day):
    1,178,528
  • Market Capitalization:
    $27.7 B
  • Day's Range:
    $117.12 - $119.73
  • Dividend Yield:
    1.71%
  • 52-week Range:
    $121 - $94.37
  • P-E:
    22.50
  • EPS:
    $5.09
  • Earnings Date:
    10/17/19
  • Ex Dividend Date:
    8/9/19
  • Sector:
    Basic Materials
  • Industry:
    Specialty Chemicals
  • Analyst Average Recommendation:
    Hold

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