Bank of New York Mellon Corp lessened its holdings in shares of PQ Group Holdings Inc (NYSE:PQG) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 142,842 shares of the company’s stock after selling 825 shares during the period. Bank of New York Mellon Corp’s holdings in PQ Group were worth $2,116,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in PQ Group by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 5,595,705 shares of the company’s stock valued at $97,758,000 after purchasing an additional 414,930 shares in the last quarter. Alliancebernstein L.P. purchased a new position in PQ Group during the third quarter valued at approximately $222,000. BlackRock Inc. lifted its holdings in PQ Group by 8.4% during the third quarter. BlackRock Inc. now owns 2,436,560 shares of the company’s stock valued at $42,567,000 after purchasing an additional 188,543 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PQ Group by 183.1% during the third quarter. Dimensional Fund Advisors LP now owns 397,602 shares of the company’s stock valued at $6,946,000 after purchasing an additional 257,133 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of PQ Group in the third quarter worth $1,258,000. Hedge funds and other institutional investors own 69.06% of the company’s stock.
In other PQ Group news, Director Jonny Ginns purchased 13,112 shares of PQ Group stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average price of $15.25 per share, for a total transaction of $199,958.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ineos Investments Partnership sold 32,909,062 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.
Separately, Zacks Investment Research downgraded shares of PQ Group from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. One research 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. The stock presently has an average rating of “Buy” and an average target price of $20.50.
PQG stock opened at $16.15 on Monday. PQ Group Holdings Inc has a one year low of $13.28 and a one year high of $18.69. 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 firm has a market capitalization of $2.19 billion, a PE ratio of 18.56, a P/E/G ratio of 1.21 and a beta of 0.67.
PQ Group (NYSE:PQG) last released its earnings results on Thursday, February 21st. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. PQ Group had a net margin of 3.63% and a return on equity of 7.06%. The firm had revenue of $380.00 million for the quarter, compared to the consensus estimate of $364.71 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that PQ Group Holdings Inc will post 0.84 EPS for the current 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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