W.R. Grace & Co. (GRA) Downgraded to “Hold” at Zacks Investment Research
W.R. Grace & Co. (NYSE:GRA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 research analysts also recently weighed in on GRA. Jefferies Group restated a “buy” rating on shares of W.R. Grace & Co. in a research report on Wednesday, July 6th. KeyCorp restated a “buy” rating and issued a $85.00 target price on shares of W.R. Grace & Co. in a research report on Thursday, July 14th. Robert W. Baird restated a “neutral” rating and issued a $76.00 target price on shares of W.R. Grace & Co. in a research report on Tuesday, August 2nd. 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 issued a “neutral” rating and a $81.00 target price for the company. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $87.36.
Shares of W.R. Grace & Co. (NYSE:GRA) opened at 71.97 on Wednesday. The stock has a market cap of $5.06 billion, a P/E ratio of 70.35 and a beta of 1.40. W.R. Grace & Co. has a 12 month low of $63.84 and a 12 month high of $101.99. The stock has a 50 day moving average price of $75.38 and a 200-day moving average price of $75.60.
W.R. Grace & Co. (NYSE:GRA) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. W.R. Grace & Co. had a return on equity of 86.16% and a net margin of 3.05%. The business earned $390.50 million during the quarter, compared to analyst estimates of $407.36 million. During the same period in the prior year, the company posted $1.19 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts forecast that W.R. Grace & Co. will post $3.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Tuesday, August 23rd were issued 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 0.94%. W.R. Grace & Co.’s payout ratio is currently 68.69%.
Several hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors L.L.C. raised its stake in W.R. Grace & Co. by 56.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 6,900 shares of the company’s stock worth $491,000 after buying an additional 2,500 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in W.R. Grace & Co. by 66.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,502,605 shares of the company’s stock worth $106,955,000 after buying an additional 599,900 shares during the last quarter. Prudential Financial Inc. raised its stake in W.R. Grace & Co. by 0.6% in the first quarter. Prudential Financial Inc. now owns 4,673 shares of the company’s stock worth $333,000 after buying an additional 30 shares during the last quarter. BlackRock Inc. raised its stake in W.R. Grace & Co. by 1,260.2% in the first quarter. BlackRock Inc. now owns 59,058 shares of the company’s stock worth $4,204,000 after buying an additional 54,716 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in 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 last quarter. Institutional investors 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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