Rhumbline Advisers Acquires 12,239 Shares of PQ Group Holdings Inc (PQG)

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Rhumbline Advisers grew its holdings in PQ Group Holdings Inc (NYSE:PQG) by 47.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,794 shares of the company’s stock after acquiring an additional 12,239 shares during the quarter. Rhumbline Advisers’ holdings in PQ Group were worth $680,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN grew its position in PQ Group by 42.1% in the 1st quarter. Wells Fargo & Company MN now owns 1,565,718 shares of the company’s stock worth $21,873,000 after purchasing an additional 464,179 shares during the last quarter. Comerica Bank bought a new position in PQ Group in the 1st quarter worth about $245,000. Schwab Charles Investment Management Inc. grew its position in PQ Group by 25.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 145,134 shares of the company’s stock worth $2,028,000 after purchasing an additional 29,660 shares during the last quarter. Northern Trust Corp grew its position in PQ Group by 2.8% in the 1st quarter. Northern Trust Corp now owns 307,577 shares of the company’s stock worth $4,297,000 after purchasing an additional 8,469 shares during the last quarter. Finally, BlackRock Inc. grew its position in PQ Group by 5.3% in the 1st quarter. BlackRock Inc. now owns 1,832,769 shares of the company’s stock worth $25,604,000 after purchasing an additional 91,941 shares during the last quarter. 69.22% of the stock is owned by institutional investors.

In related news, insider Paul Ferrall sold 24,592 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $17.84, for a total transaction of $438,721.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 33,636 shares of company stock valued at $600,833. Company insiders own 3.30% of the company’s stock.

PQG has been the subject of several recent analyst reports. Nomura upped their target price on shares of PQ Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Citigroup upped their target price on shares of PQ Group from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. JPMorgan Chase & Co. cut shares of PQ Group from an “overweight” rating to a “neutral” rating in a research report on Friday, August 10th. Credit Suisse Group upped their price target on shares of PQ Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Finally, BMO Capital Markets upped their price target on shares of PQ Group from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $20.23.

PQG stock opened at $17.74 on Thursday. PQ Group Holdings Inc has a 12 month low of $12.88 and a 12 month high of $18.69. The company has a market cap of $2.41 billion and a P/E ratio of 25.14. The company has a quick ratio of 1.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.34.

PQ Group (NYSE:PQG) last released its earnings results on Thursday, August 9th. The company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. PQ Group had a net margin of 5.00% and a return on equity of 5.97%. The business had revenue of $434.70 million during the quarter, compared to analyst estimates of $420.44 million. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. equities analysts predict that PQ Group Holdings Inc will post 0.86 earnings per share for the current fiscal year.

PQ Group Company Profile

PQ Group Holdings Inc provides catalysts, specialty materials and chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates in 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 and emission 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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Institutional Ownership by Quarter for PQ Group (NYSE:PQG)

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