A number of other brokerages also recently issued reports on GRA. Robert W. Baird reissued a neutral rating and issued a $76.00 price target on shares of W.R. Grace & Co. in a report on Tuesday, August 2nd. Zacks Investment Research downgraded W.R. Grace & Co. from a hold rating to a sell rating in a report on Thursday, July 14th. KeyCorp reissued a buy rating and issued a $85.00 price target on shares of W.R. Grace & Co. in a report on Thursday, July 14th. Seaport Global Securities assumed coverage on W.R. Grace & Co. in a report on Tuesday, September 13th. They issued a neutral rating and a $81.00 price target for the company. Finally, Jefferies Group reissued a buy rating on shares of W.R. Grace & Co. in a report on Wednesday, July 6th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. W.R. Grace & Co. currently has an average rating of Buy and an average target price of $87.36.
W.R. Grace & Co. (NYSE:GRA) traded down 1.39% during mid-day trading on Wednesday, hitting $73.31. 491,309 shares of the stock were exchanged. The stock has a 50 day moving average of $75.60 and a 200-day moving average of $75.46. W.R. Grace & Co. has a 52-week low of $63.84 and a 52-week high of $101.99. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 71.66 and a beta of 1.46.
W.R. Grace & Co. (NYSE:GRA) last issued its earnings results on Monday, August 1st. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.06. The firm had revenue of $390.50 million for the quarter, compared to analyst estimates of $407.36 million. W.R. Grace & Co. had a return on equity of 86.16% and a net margin of 3.05%. W.R. Grace & Co.’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Equities analysts predict that W.R. Grace & Co. will post $3.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Tuesday, August 23rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.68 dividend on an annualized basis and a yield of 0.93%. W.R. Grace & Co.’s payout ratio is currently 68.69%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Agricole S A purchased a new position in shares of W.R. Grace & Co. during the first quarter worth $102,000. M&T Bank Corp increased its stake in shares of W.R. Grace & Co. by 109.7% in the first quarter. M&T Bank Corp now owns 4,537 shares of the company’s stock worth $322,000 after buying an additional 2,373 shares during the period. BlackRock Japan Co. Ltd bought a new stake in shares of W.R. Grace & Co. during the first quarter worth about $6,302,000. BlackRock Institutional Trust Company N.A. increased its stake in shares of W.R. Grace & Co. by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,814,104 shares of the company’s stock worth $129,128,000 after buying an additional 55,784 shares during the period. Finally, Hudson Bay Capital Management LP bought a new stake in shares of W.R. Grace & Co. during the first quarter worth about $722,000. Institutional investors own 83.79% of the company’s stock.
About W.R. Grace & Co.
W.R. Grace & Co (Grace) is engaged in the production and sale of specialty chemicals and specialty materials. The Company operates in three segments: Grace Catalysts Technologies, Grace Materials Technologies and Grace Construction Products. Its Grace Catalysts Technologies segment produces and sells catalysts and related products and technologies used in refining, petrochemical and other chemical manufacturing applications, including Fluid catalytic cracking catalysts, Hydroprocessing catalysts, and Polyolefin catalysts and catalyst supports.
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