Shell Asset Management Co. lowered its stake in shares of W.R. Grace & Co. (NYSE:GRA) by 13.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,955 shares of the company’s stock after selling 590 shares during the period. Shell Asset Management Co.’s holdings in W.R. Grace & Co. were worth $290,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. boosted its stake in shares of W.R. Grace & Co. by 40.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,788,018 shares of the company’s stock valued at $198,451,000 after buying an additional 805,966 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of W.R. Grace & Co. by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,814,104 shares of the company’s stock valued at $129,128,000 after buying an additional 55,784 shares during the last quarter. State Street Corp boosted its stake in shares of W.R. Grace & Co. by 44.8% in the first quarter. State Street Corp now owns 1,187,313 shares of the company’s stock valued at $84,517,000 after buying an additional 367,428 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $30,203,000 after buying an additional 21,975 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of W.R. Grace & Co. during the first quarter valued at about $24,736,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.
Shares of W.R. Grace & Co. (NYSE:GRA) traded up 0.86% during trading on Wednesday, reaching $70.76. The company had a trading volume of 363,623 shares. The company has a market cap of $4.98 billion, a P/E ratio of 69.17 and a beta of 1.40. The firm has a 50-day moving average of $74.85 and a 200-day moving average of $75.61. W.R. Grace & Co. has a 12-month low of $63.84 and a 12-month high of $101.99.
W.R. Grace & Co. (NYSE:GRA) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.06. The company had revenue of $390.50 million for the quarter, compared to the consensus estimate of $407.36 million. W.R. Grace & Co. had a return on equity of 86.16% and a net margin of 3.05%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business 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 year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Tuesday, August 23rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Friday, August 19th. W.R. Grace & Co.’s dividend payout ratio (DPR) is presently 68.69%.
Several analysts have issued reports on GRA shares. Zacks Investment Research upgraded W.R. Grace & Co. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Seaport Global Securities started coverage on W.R. Grace & Co. in a research note on Tuesday, September 13th. They set a “neutral” rating and a $81.00 price objective on the stock. TheStreet upgraded W.R. Grace & Co. from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Robert W. Baird reiterated 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, Jefferies Group reiterated a “buy” rating on shares of W.R. Grace & Co. in a research report on Wednesday, July 6th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $87.36.
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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