Spark Investment Management LLC purchased a new position in shares of PQ Group Holdings Inc (NYSE:PQG) in the first quarter, HoldingsChannel.com reports. The firm purchased 30,427 shares of the company’s stock, valued at approximately $461,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of PQG. Principal Financial Group Inc. raised its stake in shares of PQ Group by 43.9% in the 4th quarter. Principal Financial Group Inc. now owns 23,323 shares of the company’s stock valued at $345,000 after acquiring an additional 7,118 shares in the last quarter. First Trust Advisors LP bought a new position in shares of PQ Group in the 4th quarter valued at approximately $2,429,000. Shapiro Capital Management LLC raised its stake in shares of PQ Group by 11.7% in the 4th quarter. Shapiro Capital Management LLC now owns 4,001,646 shares of the company’s stock valued at $59,264,000 after acquiring an additional 417,954 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PQ Group by 74.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,247 shares of the company’s stock valued at $48,000 after acquiring an additional 1,388 shares in the last quarter. Finally, MetLife Investment Advisors LLC bought a new position in shares of PQ Group in the 3rd quarter valued at approximately $391,000. 69.02% of the stock is owned by institutional investors.
In other news, major shareholder Ineos Investments Partnership sold 32,909,062 shares of PQ Group stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total transaction of $506,141,373.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonny Ginns acquired 13,112 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were purchased at an average cost of $15.25 per share, for a total transaction of $199,958.00. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.
Separately, Zacks Investment Research raised PQ Group from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. PQ Group currently has an average rating of “Buy” and an average target price of $21.20.
PQG traded down $0.04 during midday trading on Friday, reaching $15.31. The company’s stock had a trading volume of 221 shares, compared to its average volume of 101,467. The firm has a market capitalization of $2.16 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 1.19 and a beta of 0.70. The company has a quick ratio of 1.09, a current ratio of 2.17 and a debt-to-equity ratio of 1.28. PQ Group Holdings Inc has a twelve month low of $13.28 and a twelve month high of $18.69.
PQ Group (NYSE:PQG) last released its earnings results on Thursday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. The firm had revenue of $359.20 million for the quarter, compared to analyst estimates of $367.89 million. PQ Group had a return on equity of 6.82% and a net margin of 3.83%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. As a group, analysts anticipate that PQ Group Holdings Inc will post 0.83 earnings per share for the current year.
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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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