W.R. Grace & Co. (GRA) Receives Average Rating of “Buy” from Brokerages
Shares of W.R. Grace & Co. (NYSE:GRA) have been given an average recommendation of “Buy” by the thirteen analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $81.22.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of W.R. Grace & Co. from a “hold” rating to a “sell” rating in a report on Wednesday. Loop Capital began coverage on shares of W.R. Grace & Co. in a research note on Thursday, September 28th. They set a “buy” rating and a $81.00 target price for the company. KeyCorp reissued a “buy” rating and set a $77.00 target price on shares of W.R. Grace & Co. in a research note on Tuesday, October 17th. Finally, Jefferies Group reissued a “hold” rating and set a $77.00 target price on shares of W.R. Grace & Co. in a research note on Thursday, October 26th.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in W.R. Grace & Co. by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,487 shares of the specialty chemicals company’s stock valued at $179,000 after purchasing an additional 133 shares in the last quarter. Toronto Dominion Bank boosted its holdings in W.R. Grace & Co. by 244.1% during the third quarter. Toronto Dominion Bank now owns 2,887 shares of the specialty chemicals company’s stock worth $208,000 after purchasing an additional 2,048 shares during the last quarter. Trexquant Investment LP bought a new stake in W.R. Grace & Co. during the third quarter worth $221,000. Timber Hill LLC bought a new stake in W.R. Grace & Co. during the third quarter worth $258,000. Finally, Prudential Financial Inc. raised its position in W.R. Grace & Co. by 4.6% during the second quarter. Prudential Financial Inc. now owns 4,553 shares of the specialty chemicals company’s stock worth $328,000 after acquiring an additional 200 shares in the last quarter. 84.78% of the stock is owned by institutional investors.
W.R. Grace & Co. (NYSE:GRA) last posted its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.09. W.R. Grace & Co. had a net margin of 8.54% and a return on equity of 48.03%. The business had revenue of $429.50 million for the quarter, compared to analyst estimates of $411.50 million. During the same quarter last year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. equities research analysts forecast that W.R. Grace & Co. will post 3.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Wednesday, November 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 1.16%. W.R. Grace & Co.’s dividend payout ratio (DPR) is presently 38.01%.
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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