Cantor Fitzgerald Investment Advisors L.P. Invests $5.94 Million in PPG Industries, Inc. (NYSE:PPG)

Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 49,760 shares of the specialty chemicals company’s stock, valued at approximately $5,944,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in PPG Industries during the 4th quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries in the 3rd quarter valued at $34,000. Albion Financial Group UT purchased a new position in PPG Industries in the 4th quarter worth $38,000. Finally, Hara Capital LLC acquired a new stake in PPG Industries during the 3rd quarter worth about $40,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PPG. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. The Goldman Sachs Group reduced their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. UBS Group cut their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Mizuho decreased their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.46.

PPG Industries Stock Performance

Shares of PPG stock opened at $114.87 on Friday. The company has a market capitalization of $26.65 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.97 and a beta of 1.23. PPG Industries, Inc. has a 12-month low of $110.20 and a 12-month high of $145.60. The business’s 50 day moving average is $120.22 and its two-hundred day moving average is $123.94. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Analysts expect that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

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.