W.R. Grace & Co. (GRA) Declares Quarterly Dividend of $0.21
W.R. Grace & Co. (NYSE:GRA) announced a quarterly dividend on Thursday, July 27th, Zacks reports. Stockholders of record on Thursday, August 17th will be paid a dividend of 0.21 per share by the specialty chemicals company on Thursday, September 7th. This represents a $0.84 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Tuesday, August 15th.
W.R. Grace & Co. has a dividend payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Analysts expect W.R. Grace & Co. to earn $3.68 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 22.8%.
Shares of W.R. Grace & Co. (NYSE:GRA) opened at 67.03 on Thursday. The stock has a 50 day moving average price of $70.45 and a 200 day moving average price of $70.28. The stock has a market cap of $4.57 billion, a P/E ratio of 32.63 and a beta of 1.12. W.R. Grace & Co. has a 12 month low of $63.37 and a 12 month high of $80.56.
W.R. Grace & Co. (NYSE:GRA) last posted its earnings results on Thursday, July 27th. The specialty chemicals company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. W.R. Grace & Co. had a return on equity of 43.88% and a net margin of 8.20%. The company had revenue of $429.50 million for the quarter, compared to analyst estimates of $407.72 million. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that W.R. Grace & Co. will post $3.37 EPS for the current fiscal year.
Several research firms have weighed in on GRA. BidaskClub lowered W.R. Grace & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. TheStreet upgraded W.R. Grace & Co. from a “c” rating to a “b-” rating in a report on Thursday, June 1st. Susquehanna Bancshares Inc began coverage on W.R. Grace & Co. in a report on Tuesday, April 25th. They set a “neutral” rating and a $75.00 target price on the stock. Zacks Investment Research lowered W.R. Grace & Co. from a “hold” rating to a “sell” rating in a report on Thursday, April 20th. Finally, Jefferies Group LLC restated a “hold” rating and set a $70.00 target price on shares of W.R. Grace & Co. in a report on Friday, June 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $80.18.
In other news, VP Mark A. Shelnitz sold 26,853 shares of W.R. Grace & Co. stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $71.44, for a total value of $1,918,378.32. Following the transaction, the vice president now directly owns 83,437 shares in the company, valued at $5,960,739.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William C. Dockman sold 4,940 shares of W.R. Grace & Co. stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $70.02, for a total value of $345,898.80. Following the completion of the transaction, the vice president now owns 6,275 shares in the company, valued at $439,375.50. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
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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 two segments: Grace Catalysts Technologies and Grace Materials Technologies. The Grace Catalysts Technologies segment includes catalysts and related products and technologies used in refining, petrochemical and other chemical manufacturing applications.
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