W.R. Grace & Co. (GRA) Rating Lowered 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 research note issued to investors on Tuesday.
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 equities research analysts have also recently weighed in on GRA. Susquehanna Bancshares Inc started coverage on shares of W.R. Grace & Co. in a research report on Tuesday, April 25th. They set a “neutral” rating and a $75.00 price objective for the company. Vertical Research started coverage on shares of W.R. Grace & Co. in a research report on Thursday, May 25th. They set a “buy” rating and a $81.00 price objective for the company. Aegis reiterated a “buy” rating on shares of W.R. Grace & Co. in a research report on Wednesday, May 31st. TheStreet upgraded shares of W.R. Grace & Co. from a “c” rating to a “b-” rating in a research report on Thursday, June 1st. Finally, 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 objective for the company. in a research report on Thursday, June 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. W.R. Grace & Co. currently has an average rating of “Buy” and a consensus target price of $79.90.
Shares of W.R. Grace & Co. (NYSE:GRA) traded down 0.87% during trading on Tuesday, hitting $70.88. 588,632 shares of the stock traded hands. The firm has a 50-day moving average of $71.00 and a 200-day moving average of $70.23. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 36.24 and a beta of 1.14. W.R. Grace & Co. has a 1-year low of $63.37 and a 1-year high of $80.56.
W.R. Grace & Co. (NYSE:GRA) last posted its quarterly earnings data on Wednesday, April 26th. The specialty chemicals company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.05. W.R. Grace & Co. had a net margin of 8.08% and a return on equity of 40.62%. The company had revenue of $398 million during the quarter, compared to analysts’ expectations of $373.57 million. During the same period in the prior year, the company posted $0.57 earnings per share. W.R. Grace & Co.’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that W.R. Grace & Co. will post $3.37 earnings per share for the current year.
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In other W.R. Grace & Co. news, VP William C. Dockman sold 4,940 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $70.02, for a total value of $345,898.80. Following the completion of the sale, the vice president now directly owns 6,275 shares in the company, valued at $439,375.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Mark A. Shelnitz sold 26,853 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $71.44, for a total transaction of $1,918,378.32. Following the completion of the sale, the vice president now owns 83,437 shares of the company’s stock, valued at $5,960,739.28. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Large investors have recently bought and sold shares of the company. Armbruster Capital Management Inc. bought a new stake in W.R. Grace & Co. during the fourth quarter worth approximately $331,000. Kalmar Investments Inc. DE boosted its stake in W.R. Grace & Co. by 4.9% in the fourth quarter. Kalmar Investments Inc. DE now owns 515,035 shares of the specialty chemicals company’s stock worth $51,292,000 after buying an additional 23,830 shares during the last quarter. Geode Capital Management LLC boosted its stake in W.R. Grace & Co. by 5.5% in the first quarter. Geode Capital Management LLC now owns 424,576 shares of the specialty chemicals company’s stock worth $30,203,000 after buying an additional 21,975 shares during the last quarter. DIAM Co. Ltd. boosted its stake in W.R. Grace & Co. by 423.7% in the third quarter. DIAM Co. Ltd. now owns 37,131 shares of the specialty chemicals company’s stock worth $2,737,000 after buying an additional 30,041 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in W.R. Grace & Co. by 0.3% in the fourth quarter. Sei Investments Co. now owns 187,709 shares of the specialty chemicals company’s stock worth $18,694,000 after buying an additional 499 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.
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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