W.R. Grace & Co. (NYSE:GRA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
A number of other equities analysts have also recently weighed in on the stock. TheStreet cut shares of W.R. Grace & Co. from a “buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Seaport Global Securities began coverage on shares of W.R. Grace & Co. in a research report on Tuesday, September 13th. They issued a “neutral” rating and a $81.00 price objective on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of W.R. Grace & Co. in a research report on Tuesday, August 2nd. KeyCorp reaffirmed a “buy” rating and issued a $85.00 price objective on shares of W.R. Grace & Co. in a research report on Thursday, July 14th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of W.R. Grace & Co. in a research report on Wednesday, July 6th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. W.R. Grace & Co. has a consensus rating of “Hold” and a consensus target price of $87.36.
Shares of W.R. Grace & Co. (NYSE:GRA) opened at 71.97 on Wednesday. W.R. Grace & Co. has a 12-month low of $63.84 and a 12-month high of $101.99. The company has a market capitalization of $5.06 billion, a PE ratio of 70.35 and a beta of 1.40. The firm’s 50-day moving average is $75.38 and its 200-day moving average is $75.60.
W.R. Grace & Co. (NYSE:GRA) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The company had revenue of $390.50 million for the quarter, compared to analysts’ expectations of $407.36 million. W.R. Grace & Co. had a net margin of 3.05% and a return on equity of 86.16%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. On average, equities research analysts anticipate 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. Stockholders of record on Tuesday, August 23rd were paid 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 0.94%. W.R. Grace & Co.’s dividend payout ratio is presently 68.69%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Credit Agricole S A purchased a new position in W.R. Grace & Co. during the first quarter valued at $102,000. Fuller & Thaler Asset Management Inc. purchased a new position in W.R. Grace & Co. during the second quarter valued at $117,000. Advisory Services Network LLC purchased a new position in W.R. Grace & Co. during the second quarter valued at $132,000. Strs Ohio raised its position 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 in the last quarter. Finally, American International Group Inc. raised its position 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 in the last quarter. 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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