Zacks Investment Research upgraded shares of W.R. Grace & Co. (NYSE:GRA) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $82.00 target price on the stock.
According to Zacks, “W. R. Grace & Co. produces specialty chemicals. They primarily operate through the following two business segments: Davison Chemicals and Performance Chemicals. Davison Chemicals manufactures catalysts (fluid cracking, hydroprocessing and polyolein) and silica and zeolite absorbents. Performance Chemicals produces specialty construction and building materials, along with container and closure sealants. “
Several other analysts also recently weighed in on the company. Jefferies Group restated a buy rating on shares of W.R. Grace & Co. in a research note on Wednesday, July 6th. KeyCorp restated a buy rating and issued a $85.00 price target on shares of W.R. Grace & Co. in a research note on Thursday, July 14th. Seaport Global Securities started coverage on W.R. Grace & Co. in a research note on Tuesday, September 13th. They issued a neutral rating and a $81.00 price target on the stock. TheStreet upgraded W.R. Grace & Co. from a hold rating to a buy rating in a research note on Friday, August 5th. Finally, Robert W. Baird restated a neutral rating and issued a $76.00 price target on shares of W.R. Grace & Co. in a research note on Tuesday, August 2nd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $87.36.
W.R. Grace & Co. (NYSE:GRA) opened at 74.34 on Wednesday. W.R. Grace & Co. has a 52-week low of $63.84 and a 52-week high of $101.99. The firm’s 50 day moving average price is $75.66 and its 200 day moving average price is $75.47. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 72.67 and a beta of 1.46.
W.R. Grace & Co. (NYSE:GRA) last posted its quarterly earnings results on Monday, August 1st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.06. The company had revenue of $390.50 million for the quarter, compared to the consensus estimate of $407.36 million. W.R. Grace & Co. had a return on equity of 86.16% and a net margin of 3.05%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 EPS. Equities research analysts anticipate that W.R. Grace & Co. will post $3.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Tuesday, August 23rd were issued a dividend of $0.17 per share. The ex-dividend date was Friday, August 19th. This represents a $0.68 annualized dividend and a dividend yield of 0.91%. W.R. Grace & Co.’s payout ratio is 68.69%.
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in W.R. Grace & Co. by 23.8% in the second quarter. FMR LLC now owns 4,675,402 shares of the company’s stock valued at $342,287,000 after buying an additional 898,954 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in W.R. Grace & Co. by 40.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,788,018 shares of the company’s stock valued at $198,451,000 after buying an additional 805,966 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in W.R. Grace & Co. by 66.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,502,605 shares of the company’s stock valued at $106,955,000 after buying an additional 599,900 shares during the last quarter. Norges Bank purchased a new position in W.R. Grace & Co. during the fourth quarter valued at $57,146,000. Finally, State Street Corp boosted its position in W.R. Grace & Co. by 44.8% in the first quarter. State Street Corp now owns 1,187,313 shares of the company’s stock valued at $84,517,000 after buying an additional 367,428 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.
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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