Zimmer Partners LP Has $52.94 Million Stake in PQ Group Holdings Inc (PQG)

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Zimmer Partners LP decreased its position in PQ Group Holdings Inc (NYSE:PQG) by 2.7% during the 4th quarter, HoldingsChannel reports. The fund owned 3,574,500 shares of the company’s stock after selling 99,500 shares during the quarter. Zimmer Partners LP’s holdings in PQ Group were worth $52,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in PQ Group by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 5,595,705 shares of the company’s stock worth $97,758,000 after buying an additional 414,930 shares in the last quarter. Shapiro Capital Management LLC boosted its holdings in PQ Group by 11.7% during the fourth quarter. Shapiro Capital Management LLC now owns 4,001,646 shares of the company’s stock worth $59,264,000 after buying an additional 417,954 shares in the last quarter. Vanguard Group Inc boosted its holdings in PQ Group by 3.2% during the third quarter. Vanguard Group Inc now owns 2,994,543 shares of the company’s stock worth $52,315,000 after buying an additional 93,194 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PQ Group by 3.2% during the third quarter. Vanguard Group Inc. now owns 2,994,543 shares of the company’s stock worth $52,315,000 after buying an additional 93,194 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in PQ Group by 2.3% during the fourth quarter. BlackRock Inc. now owns 2,491,710 shares of the company’s stock worth $36,903,000 after buying an additional 55,150 shares in the last quarter. 69.07% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research downgraded shares of PQ Group from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. PQ Group currently has an average rating of “Buy” and an average target price of $20.50.

Shares of NYSE PQG traded down $0.05 on Wednesday, hitting $15.33. The company’s stock had a trading volume of 974 shares, compared to its average volume of 134,363. PQ Group Holdings Inc has a 12-month low of $13.28 and a 12-month high of $18.69. The company has a market capitalization of $2.08 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.19 and a quick ratio of 1.15.

PQ Group (NYSE:PQG) last announced its quarterly earnings results on Thursday, February 21st. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. PQ Group had a net margin of 3.63% and a return on equity of 7.06%. The company had revenue of $380.00 million for the quarter, compared to the consensus estimate of $364.71 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts forecast that PQ Group Holdings Inc will post 0.84 EPS for the current fiscal year.

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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.

Further Reading: What is the Producer Price Index (PPI)?

Want to see what other hedge funds are holding PQG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PQ Group Holdings Inc (NYSE:PQG).

Institutional Ownership by Quarter for PQ Group (NYSE:PQG)

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