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

Zacks Investment Research lowered shares of PQ Group (NYSE:PQG) from a buy rating to a hold rating in a report issued 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. “

PQG stock opened at $15.98 on Friday. The firm has a market capitalization of $2.16 billion, a P/E ratio of 18.37, a PEG ratio of 1.21 and a beta of 0.69. The company has a 50-day moving average of $15.84. PQ Group has a 52 week low of $13.28 and a 52 week high of $18.54. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.09 and a current ratio of 2.17.

PQ Group (NYSE:PQG) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. The business had revenue of $359.20 million during the quarter, compared to the consensus estimate of $367.89 million. PQ Group had a return on equity of 6.82% and a net margin of 3.83%. PQ Group’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. As a group, analysts anticipate that PQ Group will post 0.82 EPS for the current fiscal year.

In related news, insider Ray Kolberg sold 12,077 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $15.87, for a total value of $191,661.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PQG. Shapiro Capital Management LLC increased 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 during the period. Dimensional Fund Advisors LP increased its stake 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 buying an additional 259,078 shares during the period. First Trust Advisors LP acquired a new position in shares of PQ Group in the fourth quarter valued at approximately $2,429,000. LGT Capital Partners LTD. increased its stake in shares of PQ Group by 86.9% in the first quarter. LGT Capital Partners LTD. now owns 157,000 shares of the company’s stock valued at $2,382,000 after buying an additional 73,000 shares during the period. Finally, BlackRock Inc. increased its stake in shares of PQ Group by 2.3% in the fourth quarter. BlackRock Inc. now owns 2,491,710 shares of the company’s stock valued at $36,903,000 after buying an additional 55,150 shares during the period. 68.83% of the stock is owned by hedge funds and other institutional investors.

About PQ Group

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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