PQ Group (NYSE:PQG) released its quarterly earnings data on Tuesday. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01, MarketWatch Earnings reports. PQ Group had a net margin of 5.00% and a return on equity of 5.97%. The company had revenue of $427.20 million during the quarter, compared to the consensus estimate of $413.13 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. PQ Group’s revenue for the quarter was up 9.0% on a year-over-year basis. PQ Group updated its FY 2018 guidance to EPS.
Shares of NYSE:PQG traded up $0.19 on Wednesday, reaching $15.82. The company’s stock had a trading volume of 1,265 shares, compared to its average volume of 133,023. PQ Group has a 52-week low of $12.88 and a 52-week high of $18.69. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.23 and a current ratio of 2.23. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 34.50 and a beta of 1.04.
Several equities analysts have issued reports on PQG shares. Nomura upped their price objective on shares of PQ Group from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Citigroup upped their price objective on shares of PQ Group from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Zacks Investment Research upgraded shares of PQ Group from a “sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. downgraded shares of PQ Group from an “overweight” rating to a “neutral” rating in a research note on Friday, August 10th. Finally, Credit Suisse Group upped their price objective on shares of PQ Group from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.43.
In other news, insider Paul Ferrall sold 4,305 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $17.93, for a total value of $77,188.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 86,959 shares of company stock valued at $1,553,715 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.
Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of PQ Group by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 5,595,705 shares of the company’s stock valued at $97,758,000 after buying an additional 414,930 shares during the last quarter. Boston Partners raised its holdings in shares of PQ Group by 2.3% in the second quarter. Boston Partners now owns 3,035,193 shares of the company’s stock valued at $54,634,000 after buying an additional 67,320 shares during the last quarter. BlackRock Inc. raised its holdings in shares of PQ Group by 22.7% in the second quarter. BlackRock Inc. now owns 2,248,017 shares of the company’s stock valued at $40,463,000 after buying an additional 415,248 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of PQ Group by 6.5% in the third quarter. Wells Fargo & Company MN now owns 1,783,015 shares of the company’s stock valued at $31,149,000 after buying an additional 109,294 shares during the last quarter. Finally, Emerald Advisers Inc. PA raised its holdings in PQ Group by 1.6% during the second quarter. Emerald Advisers Inc. PA now owns 1,228,203 shares of the company’s stock worth $22,108,000 after purchasing an additional 19,685 shares in the last quarter. 69.26% of the stock is owned by institutional investors and hedge funds.
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About PQ Group
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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