Advisory Services Network LLC acquired a new stake in W.R. Grace & Co. (NYSE:GRA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,808 shares of the company’s stock, valued at approximately $132,000.
A number of other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of W.R. Grace & Co. by 5.5% in the first quarter. Geode Capital Management LLC now owns 424,576 shares of the company’s stock worth $30,203,000 after buying an additional 21,975 shares during the period. Pictet Asset Management Ltd. acquired a new position in shares of W.R. Grace & Co. during the first quarter worth about $1,437,000. Credit Agricole S A acquired a new position in shares of W.R. Grace & Co. during the first quarter worth about $102,000. BlackRock Group LTD raised its position in shares of W.R. Grace & Co. by 310.4% in the first quarter. BlackRock Group LTD now owns 231,079 shares of the company’s stock worth $16,450,000 after buying an additional 174,778 shares during the period. Finally, Banbury Partners LLC raised its position in shares of W.R. Grace & Co. by 68.0% in the first quarter. Banbury Partners LLC now owns 214,118 shares of the company’s stock worth $15,241,000 after buying an additional 86,684 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.
Shares of W.R. Grace & Co. (NYSE:GRA) traded down 2.19% during mid-day trading on Tuesday, hitting $70.16. The company’s stock had a trading volume of 359,957 shares. The stock has a 50-day moving average of $75.10 and a 200-day moving average of $75.65. 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 cap of $4.93 billion, a PE ratio of 68.58 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, beating the Zacks’ consensus estimate of $0.68 by $0.06. The business had revenue of $390.50 million for the quarter, compared to analyst estimates of $407.36 million. W.R. Grace & Co. had a return on equity of 86.16% and a net margin of 3.05%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 earnings per share. On average, equities research analysts forecast that W.R. Grace & Co. will post $3.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Tuesday, August 23rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, August 19th. W.R. Grace & Co.’s dividend payout ratio is presently 68.69%.
A number of research analysts have recently issued reports on GRA shares. Zacks Investment Research upgraded W.R. Grace & Co. from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Wednesday, September 28th. KeyCorp reiterated a “buy” rating and set a $85.00 target price on shares of W.R. Grace & Co. in a research report on Thursday, July 14th. Jefferies Group reiterated a “buy” rating on shares of W.R. Grace & Co. in a research report on Wednesday, July 6th. TheStreet upgraded W.R. Grace & Co. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, Seaport Global Securities started coverage on W.R. Grace & Co. in a research report on Tuesday, September 13th. They set a “neutral” rating and a $81.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. W.R. Grace & Co. presently has an average rating of “Hold” and a consensus target price of $87.36.
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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