PQ Group Holdings Inc. (NYSE:PQG) Major Shareholder Ccmp Capital, Lp Sells 8,164,010 Shares of Stock

PQ Group Holdings Inc. (NYSE:PQG) major shareholder Ccmp Capital, Lp sold 8,164,010 shares of the business’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $13.44, for a total transaction of $109,724,294.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of PQG opened at $14.09 on Tuesday. The company has a current ratio of 2.76, a quick ratio of 1.70 and a debt-to-equity ratio of 1.06. The stock has a market cap of $1.93 billion, a P/E ratio of 44.03 and a beta of 0.90. The company has a 50-day moving average of $16.48 and a two-hundred day moving average of $14.81. PQ Group Holdings Inc. has a 12-month low of $9.61 and a 12-month high of $18.90.

PQ Group (NYSE:PQG) last announced its earnings results on Monday, March 8th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.49. The company had revenue of $281.50 million during the quarter, compared to analysts’ expectations of $323.78 million. PQ Group had a net margin of 2.94% and a return on equity of 5.47%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. As a group, analysts forecast that PQ Group Holdings Inc. will post 0.6 EPS for the current fiscal year.

A number of analysts recently commented on the stock. Credit Suisse Group reissued an “outperform” rating and set a $19.00 price objective on shares of PQ Group in a report on Monday, March 22nd. KeyCorp boosted their price objective on shares of PQ Group from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, March 15th. Finally, Zacks Investment Research downgraded shares of PQ Group from a “hold” rating to a “sell” rating in a report on Friday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $17.67.

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of PQ Group by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 255,242 shares of the company’s stock valued at $3,640,000 after buying an additional 1,475 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of PQ Group by 31.0% in the fourth quarter. Nuveen Asset Management LLC now owns 250,353 shares of the company’s stock valued at $3,570,000 after buying an additional 59,192 shares during the last quarter. Adirondack Research & Management Inc. acquired a new position in shares of PQ Group in the fourth quarter valued at approximately $743,000. First Trust Advisors LP raised its position in shares of PQ Group by 117.9% in the fourth quarter. First Trust Advisors LP now owns 217,820 shares of the company’s stock valued at $3,106,000 after buying an additional 117,878 shares during the last quarter. Finally, Cardinal Capital Management LLC CT acquired a new position in shares of PQ Group in the fourth quarter valued at approximately $8,079,000. 69.40% of the stock is owned by institutional investors and hedge funds.

About PQ Group

PQ Group Holdings Inc provides specialty catalysts, chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through three segments: Refining Services, Catalysts, and Performance Chemicals. The Refining Services segment offers sulfuric acid recycling and end-to-end logistics services to produce alkylate; and virgin sulfuric acid for water treatment, mining, and industrial applications.

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