PQ Group Holdings Inc’s Lock-Up Period To End on March 28th (NYSE:PQG)
PQ Group’s (NYSE:PQG) lock-up period is set to end on Wednesday, March 28th. PQ Group had issued 29,000,000 shares in its IPO on September 29th. The total size of the offering was $507,500,000 based on an initial share price of $17.50. After the end of PQ Group’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
Separately, Zacks Investment Research downgraded PQ Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $19.75.
PQ Group (PQG) opened at $14.02 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.04 and a current ratio of 1.84. PQ Group has a twelve month low of $12.88 and a twelve month high of $17.65.
Large investors have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in shares of PQ Group during the 4th quarter valued at about $138,000. Salem Investment Counselors Inc. purchased a new stake in shares of PQ Group during the 4th quarter valued at about $165,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of PQ Group during the 4th quarter valued at about $269,000. Paloma Partners Management Co purchased a new stake in shares of PQ Group during the 4th quarter valued at about $287,000. Finally, Rhumbline Advisers purchased a new stake in shares of PQ Group during the 4th quarter valued at about $319,000. Institutional investors and hedge funds own 68.53% of the company’s stock.
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About PQ Group
PQ Group Holdings Inc is a global provider of catalysts, specialty materials, chemicals and services that enable environmental improvements. The Company’s products and solutions help companies produce vehicles with fuel efficiency. The Company has developed zeolite-based catalysts to reduce pollutants in diesel engines.
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