PQ Group Holdings Inc (NYSE:PQG) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 379,400 shares, a decline of 7.7% from the August 15th total of 410,900 shares. Based on an average daily volume of 87,200 shares, the days-to-cover ratio is currently 4.4 days. Currently, 1.0% of the company’s shares are short sold.
PQG stock traded up $0.13 during midday trading on Monday, hitting $15.94. The company had a trading volume of 72,514 shares, compared to its average volume of 92,944. The company has a current ratio of 2.46, a quick ratio of 1.40 and a debt-to-equity ratio of 1.25. PQ Group has a 52 week low of $13.18 and a 52 week high of $18.54. The stock’s 50 day moving average price is $14.94 and its 200 day moving average price is $15.47. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.16 and a beta of 0.72.
PQ Group (NYSE:PQG) last announced its earnings results on Thursday, August 8th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. The company had revenue of $431.70 million during the quarter, compared to the consensus estimate of $440.92 million. PQ Group had a return on equity of 7.00% and a net margin of 4.77%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. Analysts predict that PQ Group will post 0.86 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of PQ Group by 0.8% during the second quarter. Vanguard Group Inc. now owns 3,557,770 shares of the company’s stock valued at $56,391,000 after acquiring an additional 28,837 shares in the last quarter. BlackRock Inc. raised its holdings in shares of PQ Group by 5.8% during the second quarter. BlackRock Inc. now owns 2,620,665 shares of the company’s stock valued at $41,537,000 after acquiring an additional 143,131 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of PQ Group by 5.2% during the second quarter. Wells Fargo & Company MN now owns 1,705,037 shares of the company’s stock valued at $27,025,000 after acquiring an additional 84,419 shares in the last quarter. Northern Trust Corp raised its holdings in shares of PQ Group by 46.3% during the second quarter. Northern Trust Corp now owns 672,188 shares of the company’s stock valued at $10,654,000 after acquiring an additional 212,793 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of PQ Group by 65.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 656,680 shares of the company’s stock valued at $9,726,000 after acquiring an additional 259,078 shares in the last quarter. Institutional investors own 68.70% of the company’s stock.
Several brokerages have weighed in on PQG. Nomura set a $19.00 price objective on PQ Group and gave the company a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research upgraded PQ Group from a “sell” rating to a “hold” rating in a research report on Friday, August 9th.
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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