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PQ Group Sees Unusually High Options Volume (NYSE:PQG)

Last updated on Wednesday, April 28, 2021 | 2021 MarketBeat

PQ Group Holdings Inc. (NYSE:PQG) was the target of unusually large options trading on Wednesday. Stock investors purchased 3,541 call options on the company. This is an increase of 2,072% compared to the average daily volume of 163 call options.

A number of brokerages have recently issued reports on PQG. KeyCorp increased their target price on PQ Group from $18.00 to $21.00 and gave the stock an "overweight" rating in a report on Monday, March 15th. Credit Suisse Group reaffirmed an "outperform" rating and set a $19.00 price target on shares of PQ Group in a report on Monday, March 22nd. Finally, Zacks Investment Research cut PQ Group from a "hold" rating to a "sell" rating in a report on Friday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of "Buy" and a consensus target price of $17.67.

Shares of NYSE PQG traded down $0.30 during midday trading on Wednesday, hitting $14.27. The stock had a trading volume of 1,824,056 shares, compared to its average volume of 193,579. The company's 50-day simple moving average is $16.90 and its 200 day simple moving average is $14.72. The firm has a market cap of $1.95 billion, a P/E ratio of 45.53 and a beta of 0.90. PQ Group has a fifty-two week low of $9.61 and a fifty-two week high of $18.90. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.76 and a quick ratio of 1.70.

PQ Group (NYSE:PQG) last released its earnings results on Monday, March 8th. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.12 by $0.49. The company had revenue of $281.50 million during the quarter, compared to analysts' expectations of $323.78 million. PQ Group had a return on equity of 5.47% and a net margin of 2.94%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. Equities analysts expect that PQ Group will post 0.6 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP acquired a new stake in shares of PQ Group in the 4th quarter valued at $1,131,000. Dimensional Fund Advisors LP boosted its position in shares of PQ Group by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,712,814 shares of the company's stock worth $24,426,000 after purchasing an additional 48,751 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of PQ Group in the 4th quarter worth $416,000. Cove Street Capital LLC boosted its position in shares of PQ Group by 40.1% in the 4th quarter. Cove Street Capital LLC now owns 2,210,187 shares of the company's stock worth $31,518,000 after purchasing an additional 632,261 shares during the last quarter. Finally, Mariner LLC bought a new position in shares of PQ Group in the 4th quarter worth $466,000. 69.40% of the stock is owned by institutional investors.

About PQ Group

PQ Group Holdings Inc provides specialty catalysts, chemicals, and services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates through three segments: Refining Services, Catalysts, and Performance Chemicals. The Refining Services segment offers sulfuric acid recycling and end-to-end logistics services to produce alkylate; and virgin sulfuric acid for water treatment, mining, and industrial applications.

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