PQ Group (NYSE:PQG) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of PQ Group (NYSE:PQG) from a buy rating to a hold rating in a research report released on Friday, 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. “

PQ Group stock opened at $15.98 on Friday. The business’s 50 day moving average price is $15.84. PQ Group has a fifty-two week low of $13.28 and a fifty-two week high of $18.54. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 1.21 and a beta of 0.69. 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 (NYSE:PQG) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. PQ Group had a net margin of 3.83% and a return on equity of 6.82%. The business had revenue of $359.20 million for the quarter, compared to analyst estimates of $367.89 million. During the same quarter last year, the firm earned $0.16 EPS. PQ Group’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, research analysts anticipate that PQ Group will post 0.82 EPS for the current fiscal year.

In other PQ Group news, insider Ray Kolberg sold 12,077 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $15.87, for a total transaction of $191,661.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of PQ Group by 65.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 656,680 shares of the company’s stock valued at $9,726,000 after purchasing an additional 259,078 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of PQ Group by 43.9% in the fourth quarter. Principal Financial Group Inc. now owns 23,323 shares of the company’s stock valued at $345,000 after buying an additional 7,118 shares in the last quarter. First Trust Advisors LP bought a new position in shares of PQ Group in the fourth quarter valued at $2,429,000. Victory Capital Management Inc. bought a new position in shares of PQ Group in the first quarter valued at $309,000. Finally, Shapiro Capital Management LLC grew its stake in shares of PQ Group by 11.7% in the fourth quarter. Shapiro Capital Management LLC now owns 4,001,646 shares of the company’s stock valued at $59,264,000 after buying an additional 417,954 shares in the last quarter. Institutional investors own 68.83% of the company’s stock.

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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