Deutsche Bank AG grew its stake in shares of PQ Group Holdings Inc (NYSE:PQG) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,073 shares of the company’s stock after buying an additional 1,894 shares during the period. Deutsche Bank AG owned 0.06% of PQ Group worth $872,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in PQ Group by 2.0% during the first quarter. BlackRock Inc. now owns 2,795,143 shares of the company’s stock worth $30,467,000 after buying an additional 53,646 shares in the last quarter. State Street Corp increased its position in PQ Group by 4.8% during the first quarter. State Street Corp now owns 804,594 shares of the company’s stock worth $8,770,000 after buying an additional 36,765 shares in the last quarter. Geode Capital Management LLC increased its position in PQ Group by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 502,119 shares of the company’s stock worth $8,626,000 after buying an additional 25,662 shares in the last quarter. LGT Capital Partners LTD. increased its position in PQ Group by 37.9% during the first quarter. LGT Capital Partners LTD. now owns 377,786 shares of the company’s stock worth $4,118,000 after buying an additional 103,786 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of PQ Group by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 236,671 shares of the company’s stock valued at $4,067,000 after purchasing an additional 1,522 shares during the period. 68.57% of the stock is owned by institutional investors.
PQG has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price objective on PQ Group from $23.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Citigroup lifted their price objective on PQ Group from $10.30 to $11.50 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, Zacks Investment Research downgraded PQ Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $16.42.
PQ Group (NYSE:PQG) last issued its earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.06. PQ Group had a return on equity of 7.42% and a net margin of 4.88%. The firm had revenue of $361.60 million for the quarter, compared to analysts’ expectations of $356.26 million. During the same quarter last year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts predict that PQ Group Holdings Inc will post 0.69 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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