Short Interest in PQ Group Holdings Inc (NYSE:PQG) Drops By 13.2%

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PQ Group Holdings Inc (NYSE:PQG) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 230,700 shares, a decline of 13.2% from the September 30th total of 265,800 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average trading volume of 88,200 shares, the days-to-cover ratio is currently 2.6 days.

PQG has been the subject of a number of analyst reports. Zacks Investment Research lowered PQ Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. TheStreet lowered PQ Group from a “b-” rating to a “c” rating in a research report on Thursday, October 24th. Finally, Nomura set a $19.00 price target on PQ Group and gave the stock a “buy” rating in a research report on Monday, August 12th.

Shares of PQG traded down $0.07 during midday trading on Friday, reaching $16.16. The stock had a trading volume of 37,049 shares, compared to its average volume of 88,142. PQ Group has a 52 week low of $13.18 and a 52 week high of $17.59. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.25 and a quick ratio of 1.26. The firm’s 50 day moving average price is $16.00 and its 200-day moving average price is $15.58. The company has a market capitalization of $2.23 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.25 and a beta of 0.76.

PQ Group (NYSE:PQG) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. PQ Group had a return on equity of 7.68% and a net margin of 5.56%. The company had revenue of $423.80 million for the quarter, compared to the consensus estimate of $425.54 million. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts forecast that PQ Group will post 0.82 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of PQG. First Trust Advisors LP raised its stake in shares of PQ Group by 17.9% in the 1st quarter. First Trust Advisors LP now owns 193,269 shares of the company’s stock worth $2,932,000 after buying an additional 29,290 shares in the last quarter. LGT Capital Partners LTD. raised its stake in shares of PQ Group by 19.1% in the 2nd quarter. LGT Capital Partners LTD. now owns 187,000 shares of the company’s stock worth $2,964,000 after buying an additional 30,000 shares in the last quarter. Aperio Group LLC bought a new stake in shares of PQ Group in the 2nd quarter worth $37,000. Swiss National Bank raised its stake in shares of PQ Group by 2.3% in the 2nd quarter. Swiss National Bank now owns 75,800 shares of the company’s stock worth $1,201,000 after buying an additional 1,700 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of PQ Group by 46.7% in the 2nd quarter. GSA Capital Partners LLP now owns 37,526 shares of the company’s stock worth $595,000 after buying an additional 11,939 shares in the last quarter. 68.67% of the stock is currently owned by 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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