W.R. Grace & Co. (GRA) Sees Strong Trading Volume
W.R. Grace & Co. (NYSE:GRA) saw unusually-strong trading volume on Friday . Approximately 1,031,628 shares were traded during mid-day trading, an increase of 106% from the previous session’s volume of 501,398 shares.The stock last traded at $74.80 and had previously closed at $75.47.
A number of analysts have recently weighed in on GRA shares. Goldman Sachs Group Inc. upped their target price on shares of W.R. Grace & Co. from $77.00 to $83.00 in a research report on Tuesday, April 12th. Zacks Investment Research raised shares of W.R. Grace & Co. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 19th. Jefferies Group reissued a “buy” rating on shares of W.R. Grace & Co. in a research report on Sunday, April 24th. Monness Crespi & Hardt increased their price objective on shares of W.R. Grace & Co. from $80.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, April 28th. Finally, KeyCorp reissued a “buy” rating and set a $85.00 price objective on shares of W.R. Grace & Co. in a research report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. W.R. Grace & Co. currently has an average rating of “Hold” and an average target price of $90.00.
The stock’s 50-day moving average is $75.09 and its 200-day moving average is $75.47. The company has a market cap of $5.28 billion and a price-to-earnings ratio of 60.48.
W.R. Grace & Co. (NYSE:GRA) last issued its earnings results on Wednesday, April 27th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.03. The company earned $362.80 million during the quarter, compared to analysts’ expectations of $396 million. During the same quarter in the previous year, the company earned $0.82 earnings per share. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. On average, equities analysts forecast that W.R. Grace & Co. will post $3.09 earnings per share for the current fiscal year.
In related news, VP Mark A. Shelnitz sold 34,810 shares of the stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $76.67, for a total transaction of $2,668,882.70. Following the transaction, the vice president now owns 72,360 shares of the company’s stock, valued at approximately $5,547,841.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Diane H. Gulyas bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were purchased at an average cost of $78.33 per share, for a total transaction of $78,330.00. Following the purchase, the director now owns 6,349 shares in the company, valued at approximately $497,317.17. The disclosure for this purchase can be found here.
Other large investors recently bought and sold shares of the company. Westfield Capital Management Co. LP raised its stake in W.R. Grace & Co. by 179.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 728,163 shares of the company’s stock worth $72,518,000 after buying an additional 467,908 shares in the last quarter. Jennison Associates LLC raised its stake in W.R. Grace & Co. by 256.8% in the fourth quarter. Jennison Associates LLC now owns 836,854 shares of the company’s stock worth $83,342,000 after buying an additional 602,337 shares in the last quarter. Suntrust Banks Inc. raised its stake in W.R. Grace & Co. by 0.4% in the fourth quarter. Suntrust Banks Inc. now owns 161,068 shares of the company’s stock worth $16,040,000 after buying an additional 580 shares in the last quarter. UBS Oconnor LLC raised its stake in W.R. Grace & Co. by 37.7% in the fourth quarter. UBS Oconnor LLC now owns 192,274 shares of the company’s stock worth $19,149,000 after buying an additional 52,629 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in W.R. Grace & Co. by 7.2% in the fourth quarter. Wells Fargo & Company MN now owns 91,335 shares of the company’s stock worth $9,096,000 after buying an additional 6,143 shares in the last quarter.
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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