W.R. Grace & Co. (GRA) Downgraded by Zacks Investment Research to Hold
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. “
GRA has been the topic of a number of other reports. Seaport Global Securities began coverage on shares of W.R. Grace & Co. in a research report on Tuesday, September 13th. They set a neutral rating and a $81.00 price target on the stock. TheStreet raised shares of W.R. Grace & Co. from a hold rating to a buy rating in a research report on Friday, August 5th. Jefferies Group reaffirmed a buy rating on shares of W.R. Grace & Co. in a research report on Wednesday, July 6th. Robert W. Baird reaffirmed a neutral rating and set a $76.00 price target on shares of W.R. Grace & Co. in a research report on Tuesday, August 2nd. Finally, KeyCorp reaffirmed a buy rating and set a $85.00 price target on shares of W.R. Grace & Co. in a research report on Thursday, July 14th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. W.R. Grace & Co. has an average rating of Hold and a consensus target price of $87.36.
W.R. Grace & Co. (NYSE:GRA) traded up 0.05% during midday trading on Wednesday, hitting $72.78. 24,465 shares of the stock were exchanged. The firm has a 50 day moving average of $75.34 and a 200-day moving average of $75.57. W.R. Grace & Co. has a 12-month low of $63.84 and a 12-month high of $101.99. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 71.14 and a beta of 1.40.
W.R. Grace & Co. (NYSE:GRA) last released its earnings results on Monday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.06. W.R. Grace & Co. had a net margin of 3.05% and a return on equity of 86.16%. The business had revenue of $390.50 million for the quarter, compared to analysts’ expectations of $407.36 million. During the same period last year, the company earned $1.19 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts expect that W.R. Grace & Co. will post $3.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Tuesday, August 23rd were paid a $0.17 dividend. The ex-dividend date was Friday, August 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.93%. W.R. Grace & Co.’s dividend payout ratio (DPR) is presently 68.69%.
Several hedge funds have recently modified their holdings of the company. Credit Agricole S A bought a new stake in shares of W.R. Grace & Co. during the first quarter worth about $102,000. Fuller & Thaler Asset Management Inc. acquired a new stake in W.R. Grace & Co. during the second quarter valued at $117,000. Advisory Services Network LLC acquired a new stake in W.R. Grace & Co. during the second quarter valued at $132,000. Strs Ohio raised its stake in W.R. Grace & Co. by 1,860.2% in the second quarter. Strs Ohio now owns 1,823 shares of the company’s stock valued at $133,000 after buying an additional 1,730 shares during the last quarter. Finally, American International Group Inc. raised its stake in W.R. Grace & Co. by 11.3% in the second quarter. American International Group Inc. now owns 2,014 shares of the company’s stock valued at $147,000 after buying an additional 205 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.
W.R. Grace & Co. Company Profile
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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