PQ Group (PQG) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of PQ Group (NYSE:PQG) from a hold rating to a sell rating in a research report released on Saturday morning, Zacks.com reports.

According to Zacks, “PQ Group Holdings Inc. is an integrated, provider of catalysts, specialty materials and chemicals and services. It operates primarily in North America, Europe, South America and Asia. The company serves refinery, emissions control and petrochemical industries. PQ Group Holdings Inc. is based in MALVERN, United States. “

Shares of PQG stock opened at $15.58 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.15 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $2.12 billion, a PE ratio of 17.91, a PEG ratio of 1.17 and a beta of 0.70. PQ Group has a fifty-two week low of $13.28 and a fifty-two week high of $18.69.



PQ Group (NYSE:PQG) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business 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 6.84% and a net margin of 3.83%. The company’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 earnings per share. Research analysts anticipate that PQ Group will post 0.83 EPS for the current year.

In other news, major shareholder Ineos Investments Partnership sold 32,909,062 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total value of $506,141,373.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jonny Ginns acquired 13,112 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was 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. 2.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in PQ Group by 15.7% in the first quarter. Geode Capital Management LLC now owns 456,657 shares of the company’s stock valued at $6,927,000 after purchasing an additional 62,076 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in PQ Group by 4.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 208,884 shares of the company’s stock valued at $3,169,000 after purchasing an additional 9,371 shares during the period. Renaissance Technologies LLC purchased a new position in PQ Group in the first quarter valued at $866,000. The Manufacturers Life Insurance Company boosted its holdings in PQ Group by 20.1% in the first quarter. The Manufacturers Life Insurance Company now owns 27,064 shares of the company’s stock valued at $411,000 after purchasing an additional 4,535 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in PQ Group in the first quarter valued at $243,000. 69.11% of the stock is currently owned by hedge funds and other institutional investors.

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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