BNP Paribas Arbitrage SA Raises Position in W.R. Grace & Co. (GRA)
BNP Paribas Arbitrage SA increased its position in W.R. Grace & Co. (NYSE:GRA) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,574 shares of the specialty chemicals company’s stock after buying an additional 1,001 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in W.R. Grace & Co. were worth $761,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of GRA. Daiwa Securities Group Inc. raised its position in shares of W.R. Grace & Co. by 22.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,150 shares of the specialty chemicals company’s stock worth $155,000 after buying an additional 400 shares during the period. US Bancorp DE raised its position in shares of W.R. Grace & Co. by 7.2% in the 1st quarter. US Bancorp DE now owns 2,284 shares of the specialty chemicals company’s stock worth $159,000 after buying an additional 154 shares during the period. LS Investment Advisors LLC raised its position in shares of W.R. Grace & Co. by 13.4% in the 2nd quarter. LS Investment Advisors LLC now owns 2,517 shares of the specialty chemicals company’s stock worth $181,000 after buying an additional 298 shares during the period. World Asset Management Inc purchased a new position in shares of W.R. Grace & Co. in the 2nd quarter worth $221,000. Finally, Achmea Investment Management B.V. purchased a new position in shares of W.R. Grace & Co. in the 1st quarter worth $226,000. 84.78% of the stock is currently owned by institutional investors and hedge funds.
In other W.R. Grace & Co. news, VP Mark A. Shelnitz sold 26,853 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $71.44, for a total transaction of $1,918,378.32. Following the completion of the transaction, the vice president now owns 83,437 shares of the company’s stock, valued at approximately $5,960,739.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.
GRA has been the topic of several research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $85.00 target price on shares of W.R. Grace & Co. in a research report on Friday, September 1st. Vertical Research started coverage on W.R. Grace & Co. in a report on Thursday, May 25th. They issued a “buy” rating and a $81.00 price target for the company. Zacks Investment Research upgraded W.R. Grace & Co. from a “sell” rating to a “hold” rating in a report on Monday, May 22nd. Monness Crespi & Hardt lowered their price target on W.R. Grace & Co. from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, July 27th. Finally, BidaskClub upgraded W.R. Grace & Co. from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $79.92.
Shares of W.R. Grace & Co. (NYSE:GRA) opened at 71.05 on Friday. W.R. Grace & Co. has a 52 week low of $63.37 and a 52 week high of $75.85. The firm has a market capitalization of $4.85 billion, a P/E ratio of 34.59 and a beta of 1.11. The stock’s 50 day moving average price is $69.53 and its 200 day moving average price is $70.08.
W.R. Grace & Co. (NYSE:GRA) last released its quarterly earnings data on Thursday, July 27th. The specialty chemicals company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.04. W.R. Grace & Co. had a net margin of 8.20% and a return on equity of 43.88%. The business had revenue of $429.50 million during the quarter, compared to analyst estimates of $407.72 million. During the same quarter in the previous year, the business earned $0.74 EPS. W.R. Grace & Co.’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that W.R. Grace & Co. will post $3.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Thursday, August 17th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, August 15th. W.R. Grace & Co.’s dividend payout ratio is 42.21%.
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 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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