Cantor Fitzgerald Investment Advisors L.P. Acquires 1,016 Shares of PPG Industries, Inc. $PPG

Cantor Fitzgerald Investment Advisors L.P. boosted its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,867 shares of the specialty chemicals company’s stock after purchasing an additional 1,016 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in PPG Industries were worth $9,312,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PPG. Price T Rowe Associates Inc. MD raised its stake in PPG Industries by 58.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after buying an additional 1,766,518 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of PPG Industries in the first quarter worth $127,152,000. Pzena Investment Management LLC bought a new position in shares of PPG Industries during the first quarter valued at $105,349,000. Nuveen LLC purchased a new position in shares of PPG Industries in the 1st quarter worth about $79,881,000. Finally, Wellington Management Group LLP raised its position in shares of PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after purchasing an additional 592,152 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Down 0.9%

NYSE:PPG opened at $104.12 on Thursday. The company has a market cap of $23.50 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The company has a 50 day simple moving average of $109.28 and a two-hundred day simple moving average of $109.58. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $132.18.

PPG Industries (NYSE:PPG) last released its quarterly earnings results 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 for 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 revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the business posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were paid a $0.71 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Citigroup increased their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 13th. Mizuho raised their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. UBS Group upped their price objective on PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada increased their target price on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $129.82.

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.