W.R. Grace & Co. (GRA) Downgraded by 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 research report issued to clients and investors 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. “
Several other research analysts have also recently weighed in on the company. TheStreet cut W.R. Grace & Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Seaport Global Securities assumed coverage on W.R. Grace & Co. in a research note on Tuesday, September 13th. They set a “neutral” rating and a $81.00 target price for the company. Robert W. Baird reaffirmed a “neutral” rating and set a $76.00 target price on shares of W.R. Grace & Co. in a research note on Tuesday, August 2nd. KeyCorp reaffirmed a “buy” rating and set a $85.00 target price on shares of W.R. Grace & Co. in a research note on Thursday, July 14th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of W.R. Grace & Co. in a research note on Wednesday, July 6th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. W.R. Grace & Co. currently has a consensus rating of “Hold” and an average price target of $87.36.
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W.R. Grace & Co. (NYSE:GRA) traded down 2.14% on Wednesday, hitting $71.50. 859,762 shares of the stock were exchanged. The company has a market cap of $5.03 billion, a PE ratio of 69.89 and a beta of 1.40. The company’s 50-day moving average is $75.27 and its 200-day moving average is $75.57. W.R. Grace & Co. has a 52 week low of $63.84 and a 52 week high of $101.99.
W.R. Grace & Co. (NYSE:GRA) last announced its earnings results on Monday, August 1st. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $407.36 million. During the same quarter last year, the business posted $1.19 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts predict that W.R. Grace & Co. will post $3.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Tuesday, August 23rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Friday, August 19th. W.R. Grace & Co.’s dividend payout ratio is currently 68.69%.
Large investors have recently made changes to their positions in the company. Pictet Asset Management Ltd. purchased a new stake in W.R. Grace & Co. during the first quarter worth $1,437,000. UBS Asset Management Americas Inc. increased its stake in W.R. Grace & Co. by 96.9% in the first quarter. UBS Asset Management Americas Inc. now owns 117,990 shares of the company’s stock worth $8,399,000 after buying an additional 58,056 shares during the period. State Street Corp increased its stake in 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 worth $84,517,000 after buying an additional 367,428 shares during the period. Canada Pension Plan Investment Board increased its stake in W.R. Grace & Co. by 312.9% in the first quarter. Canada Pension Plan Investment Board now owns 208,100 shares of the company’s stock worth $14,813,000 after buying an additional 157,700 shares during the period. Finally, Credit Agricole S A purchased a new stake in W.R. Grace & Co. during the first quarter worth $102,000. 83.79% of the stock is owned by hedge funds and other 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 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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