PQ Group’s (NYSE:PQG) lock-up period will expire on Wednesday, March 28th. PQ Group had issued 29,000,000 shares in its initial public offering on September 29th. The total size of the offering was $507,500,000 based on an initial share price of $17.50. After the end of PQ Group’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
A number of equities research analysts recently issued reports on PQG shares. Zacks Investment Research downgraded PQ Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. BMO Capital Markets assumed coverage on PQ Group in a research report on Tuesday, March 27th. They issued an “outperform” rating and a $21.00 price objective on the stock. Finally, KeyCorp reduced their target price on PQ Group from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $19.77.
Shares of NYSE:PQG traded down $0.05 on Thursday, reaching $14.18. 84,970 shares of the company traded hands, compared to its average volume of 205,595. PQ Group has a 52 week low of $12.88 and a 52 week high of $17.65. The stock has a market capitalization of $1,897.42 and a P/E ratio of 30.96. The company has a current ratio of 1.90, a quick ratio of 0.99 and a debt-to-equity ratio of 1.34.
PQ Group (NYSE:PQG) last announced its quarterly earnings data on Wednesday, March 21st. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.04. The company had revenue of $358.10 million for the quarter, compared to the consensus estimate of $341.30 million. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. research analysts predict that PQ Group will post 0.97 EPS for the current year.
In other news, Director Kyle D. Vann bought 10,000 shares of the company’s stock in a transaction dated Friday, March 23rd. The stock was bought at an average cost of $14.50 per share, for a total transaction of $145,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David James Taylor bought 15,000 shares of the company’s stock in a transaction dated Friday, March 23rd. The shares were purchased at an average price of $14.39 per share, with a total value of $215,850.00. The disclosure for this purchase can be found here.
Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio purchased a new stake in PQ Group in the fourth quarter worth about $138,000. Salem Investment Counselors Inc. purchased a new stake in PQ Group in the fourth quarter worth about $165,000. Metropolitan Life Insurance Co. NY purchased a new stake in PQ Group in the fourth quarter worth about $269,000. Paloma Partners Management Co purchased a new stake in PQ Group in the fourth quarter worth about $287,000. Finally, Rhumbline Advisers purchased a new stake in PQ Group in the fourth quarter worth about $319,000. Institutional investors and hedge funds own 68.55% of the company’s stock.
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PQ Group Company Profile
PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services. The company operates through two segments, Environmental Catalysts and Services: and Performance Materials and Chemicals. It primarily offers refinery catalysts, emissions control catalysts, and catalyst recycling services for fuels emissions controls use; silica gels for edible oil and beer clarification; precipitated silicas and zeolites for the surface coating, dentifrice, and dishwasher and laundry detergent applications; reflective markings for roadways and airports; and hollow glass beads or microspheres for cement additive, metal finishing, and oil well cement uses.
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