5 Safe Dividend Stocks to Buy Today

2. PPG Industries, Inc. (NYSE:PPG)

Number of Hedge Fund Holders: 34

Dividend Yield as of March 4: 1.91%

Number of Years of Dividend Increases: 50

PPG Industries, Inc. (NYSE:PPG) was incorporated in 1883 and is headquartered in Pittsburgh, Pennsylvania. The company, which manufactures and distributes paints, coatings, and specialty materials worldwide, has 50 consecutive years of dividend increases under its belt. 

On January 20, PPG Industries, Inc. (NYSE:PPG) reported its fourth quarter results, posting earnings per share of $1.26, topping estimates by $0.07. The company’s revenue of $4.19 billion exceeded the market consensus by $142.27 million. PPG (NYSE:PPG) also declared a $0.59 per share quarterly dividend, payable on March 11.

Mizuho analyst Christopher Parkinson defended PPG Industries, Inc. (NYSE:PPG) on March 1, keeping a ‘Buy’ rating on the shares with a $182 price target. Parkinson said PPG Industries, Inc. (NYSE:PPG)’s Russian exposure is not material, as he estimates it to be 0.5% of 2022 EBITDA. While market turmoil will likely persist given the macro backdrop, the share pullback is resulting in a “very attractive risk/reward for shares,” contends the analyst. PPG shares are down by 27% in 2022.

According to the Q4 database of Insider Monkey, 34 hedge funds held long positions in PPG Industries, Inc. (NYSE:PPG), up from 30 funds in the prior quarter. Citadel Investment Group is a prominent shareholder of the company, with 713,282 shares worth approximately $123 million. 

Here is what Saturna Capital Amana Funds had to say about PPG Industries, Inc. (NYSE:PPG) in its Q3 2021 investor letter:

“The industrial coatings manufacturer PPG was the Fund’s worst performer in the quarter, as the supply chain backups impacted its earnings outlook. The supply chain issues impacting the global economy raised questions about the fragility of the trade and logistics management practices that have been embraced by operations teams for decades. The amount of time it could take to untie these knots is unknown, and if companies choose to rethink their approach to inventory and supply management, the transition could mean several years of pressure on margins and lower returns on capital.”