PPG Industries: A Potential Investment Opportunity in Oversold Territory
Analyzing PPG’s Strong Fundamentals Amidst a Declining Stock Price
The DividendRank formula from Dividend Channel evaluates thousands of dividend stocks to identify those with strong fundamentals and attractive valuations. Currently, PPG Industries Inc (Symbol: PPG) ranks in the top 50% of this coverage universe, indicating it is a noteworthy candidate for further exploration by investors.
On Tuesday, PPG’s shares traded as low as $122.04, suggesting the stock has entered oversold territory. The Relative Strength Index (RSI), a tool used in technical analysis, measures momentum on a scale from zero to 100. A stock is deemed oversold if its RSI falls below 30.
For PPG Industries Inc, the RSI has dropped to 27.5, distinctly lower than the average RSI of 54.7 for other dividend stocks monitored by Dividend Channel. A declining stock price can present an opportunity for dividend investors looking to achieve a higher yield. Currently, PPG offers an annualized dividend of $2.72 per share, with a yield of 2.16% based on the recent share price of $125.96.
Investors viewing PPG’s 27.5 RSI reading might interpret the recent decline in stock price as a signal that selling pressure is easing. This situation could present buying opportunities. Fundamental aspects, such as PPG’s dividend history, are critical for investors who want to determine their bullish stance on the company.
While dividends can be unpredictable, reviewing the chart below can assist in assessing the likelihood of continued dividends in the future.
Click here to explore 9 other oversold dividend stocks worth considering »
Other Relevant Information:
- ATAQ market cap history
- GLCH Videos
- FSLR DMA
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
