Zacks Investment Research Lowers W. R. Grace & Co (NYSE:GRA) to Sell
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. “
Other equities research analysts also recently issued reports about the company. Loop Capital cut their target price on W. R. Grace & Co from $92.00 to $89.00 and set a buy rating for the company in a research report on Thursday, October 3rd. ValuEngine cut W. R. Grace & Co from a hold rating to a sell rating in a report on Saturday, July 27th. UBS Group dropped their price target on W. R. Grace & Co from $93.00 to $92.00 and set a buy rating on the stock in a report on Wednesday, October 2nd. BMO Capital Markets set a $83.00 price target on W. R. Grace & Co and gave the company a buy rating in a report on Friday, July 26th. Finally, Robert W. Baird set a $81.00 price target on W. R. Grace & Co and gave the company a buy rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $86.43.
W. R. Grace & Co (NYSE:GRA) last released its earnings results on Thursday, July 25th. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $513.60 million during the quarter, compared to the consensus estimate of $508.65 million. W. R. Grace & Co had a return on equity of 85.42% and a net margin of 9.31%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. On average, research analysts forecast that W. R. Grace & Co will post 4.34 EPS for the current fiscal year.
In other news, insider Force Andrew Hudson La III bought 4,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $69.04 per share, with a total value of $276,160.00. Following the purchase, the insider now directly owns 96,391 shares in the company, valued at $6,654,834.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder North Latitude Master Fund 40 bought 28,487 shares of the business’s stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $64.87 per share, for a total transaction of $1,847,951.69. The disclosure for this purchase can be found here. Insiders acquired 498,970 shares of company stock worth $32,047,464 in the last ninety days. 2.00% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. YorkBridge Wealth Partners LLC raised its stake in W. R. Grace & Co by 154.8% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,595 shares of the specialty chemicals company’s stock valued at $121,000 after purchasing an additional 969 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in W. R. Grace & Co during the 1st quarter valued at $312,000. AGF Investments LLC raised its stake in W. R. Grace & Co by 1,443.5% during the 2nd quarter. AGF Investments LLC now owns 4,260 shares of the specialty chemicals company’s stock valued at $324,000 after purchasing an additional 3,984 shares during the period. Riverhead Capital Management LLC acquired a new stake in W. R. Grace & Co during the 2nd quarter valued at $344,000. Finally, Cerebellum GP LLC acquired a new stake in W. R. Grace & Co during the 2nd quarter valued at $350,000. 86.52% of the stock is currently owned by institutional investors.
W. R. Grace & Co Company Profile
W. R. Grace & Co produces and sells specialty chemicals and materials worldwide. It operates through two segments, Grace Catalysts Technologies and Grace Materials Technologies. The Grace Catalysts Technologies segment offers fluid catalytic cracking (FCC) catalysts for the production of transportation fuels, such as gasoline and diesel fuels, and petrochemicals; FCC additives; and methanol-to-olefins catalysts for the conversion of methanol into petrochemical feeds, including ethylene and propylene.
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