Zimmer Partners LP purchased a new stake in shares of PQ Group Holdings Inc (NYSE:PQG) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,955,470 shares of the company’s stock, valued at approximately $81,517,000. PQ Group comprises 2.0% of Zimmer Partners LP’s holdings, making the stock its 18th biggest holding.
Other hedge funds have also recently added to or reduced their stakes in the company. Schneider Downs Wealth Management Advisors LP bought a new stake in PQ Group during the fourth quarter valued at about $384,000. Boston Partners bought a new stake in shares of PQ Group in the fourth quarter valued at about $50,356,000. Quantitative Systematic Strategies LLC bought a new stake in shares of PQ Group in the fourth quarter valued at about $874,000. Encompass Capital Advisors LLC bought a new stake in shares of PQ Group in the fourth quarter valued at about $9,048,000. Finally, Wells Fargo & Company MN bought a new stake in shares of PQ Group in the fourth quarter valued at about $18,120,000. Institutional investors own 68.53% of the company’s stock.
Several equities research analysts recently weighed in on PQG shares. Deutsche Bank reduced their target price on shares of PQ Group from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, November 16th. Zacks Investment Research cut shares of PQ Group from a “hold” rating to a “sell” rating in a research note 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 company. The stock has an average rating of “Buy” and a consensus price target of $19.75.
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PQ Group Profile
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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