Short Interest in PQ Group Holdings Inc (NYSE:PQG) Increases By 26.1%

PQ Group Holdings Inc (NYSE:PQG) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totalling 283,800 shares, a growth of 26.1% from the May 30th total of 225,000 shares. Based on an average trading volume of 97,300 shares, the short-interest ratio is currently 2.9 days. Approximately 0.8% of the shares of the company are sold short.

Separately, Zacks Investment Research downgraded Farmland Partners from a “hold” rating to a “sell” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. PQ Group currently has an average rating of “Buy” and a consensus price target of $20.40.

In other PQ Group news, insider Ray Kolberg sold 12,077 shares of PQ Group stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $15.87, for a total transaction of $191,661.99. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can acquired a new position in shares of PQ Group during the 4th quarter valued at $62,000. Legal & General Group Plc increased its position in shares of PQ Group by 21.5% during the 4th quarter. Legal & General Group Plc now owns 6,775 shares of the company’s stock valued at $100,000 after purchasing an additional 1,201 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of PQ Group by 262.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,465 shares of the company’s stock valued at $128,000 after purchasing an additional 6,129 shares during the period. SG Americas Securities LLC acquired a new position in shares of PQ Group during the 1st quarter valued at $144,000. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of PQ Group by 294.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,670 shares of the company’s stock valued at $158,000 after purchasing an additional 7,966 shares during the period. Institutional investors own 68.85% of the company’s stock.

PQ Group stock traded up $0.27 during mid-day trading on Friday, hitting $15.90. 75,351 shares of the company’s stock traded hands, compared to its average volume of 104,832. The company has a 50 day moving average price of $15.81. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.09 and a current ratio of 2.17. The firm has a market cap of $2.16 billion, a P/E ratio of 18.28, a PEG ratio of 1.19 and a beta of 0.68. PQ Group has a one year low of $13.28 and a one year high of $18.54.

PQ Group (NYSE:PQG) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. PQ Group had a return on equity of 6.82% and a net margin of 3.83%. The company had revenue of $359.20 million for the quarter, compared to analysts’ expectations of $367.89 million. During the same period last year, the firm earned $0.16 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. Sell-side analysts forecast that PQ Group will post 0.82 earnings per share 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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