W.R. Grace & Co. (GRA) Now Covered by Loop Capital
Loop Capital began coverage on shares of W.R. Grace & Co. (NYSE:GRA) in a report released on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $81.00 price target on the specialty chemicals company’s stock.
GRA has been the topic of a number of other research reports. BidaskClub lowered shares of W.R. Grace & Co. from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of W.R. Grace & Co. from a sell rating to a hold rating in a report on Monday, August 7th. Goldman Sachs Group, Inc. (The) cut shares of W.R. Grace & Co. from a buy rating to a neutral rating and set a $83.00 price target for the company. in a report on Thursday, June 8th. Monness Crespi & Hardt lowered their price objective on shares of W.R. Grace & Co. from $86.00 to $83.00 and set a buy rating for the company in a research note on Thursday, July 27th. Finally, Robert W. Baird reiterated a buy rating and set a $85.00 price objective on shares of W.R. Grace & Co. in a research note on Friday, September 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $80.00.
Shares of W.R. Grace & Co. (GRA) opened at 72.15 on Thursday. W.R. Grace & Co. has a 52-week low of $63.37 and a 52-week high of $74.63. The stock has a market cap of $4.92 billion, a PE ratio of 35.13 and a beta of 1.11. The company’s 50-day moving average price is $69.80 and its 200-day moving average price is $70.12.
W.R. Grace & Co. (NYSE:GRA) last posted its quarterly earnings data on Thursday, July 27th. The specialty chemicals company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.04. The firm had revenue of $429.50 million for the quarter, compared to the consensus estimate of $407.72 million. W.R. Grace & Co. had a net margin of 8.20% and a return on equity of 43.88%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 earnings per share. On average, equities research analysts forecast that W.R. Grace & Co. will post $3.37 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 17th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 1.16%. W.R. Grace & Co.’s dividend payout ratio (DPR) is presently 42.21%.
Large investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. grew its position in W.R. Grace & Co. by 22.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,150 shares of the specialty chemicals company’s stock worth $155,000 after purchasing an additional 400 shares during the period. US Bancorp DE raised its stake in shares of W.R. Grace & Co. by 7.2% during the 1st quarter. US Bancorp DE now owns 2,284 shares of the specialty chemicals company’s stock valued at $159,000 after buying an additional 154 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of W.R. Grace & Co. by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,487 shares of the specialty chemicals company’s stock valued at $179,000 after buying an additional 133 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of W.R. Grace & Co. by 13.4% during the 2nd quarter. LS Investment Advisors LLC now owns 2,517 shares of the specialty chemicals company’s stock valued at $181,000 after buying an additional 298 shares during the last quarter. Finally, World Asset Management Inc purchased a new position in shares of W.R. Grace & Co. during the 2nd quarter valued at about $221,000. 84.69% of the stock is currently owned by institutional investors.
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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