W. R. Grace & Co (NYSE:GRA) – Investment analysts at Jefferies Financial Group reduced their Q4 2019 earnings per share estimates for W. R. Grace & Co in a report released on Friday, October 25th. Jefferies Financial Group analyst L. Alexander now expects that the specialty chemicals company will earn $1.27 per share for the quarter, down from their previous estimate of $1.30. Jefferies Financial Group also issued estimates for W. R. Grace & Co’s FY2020 earnings at $4.70 EPS.
W. R. Grace & Co (NYSE:GRA) last issued its quarterly earnings data on Thursday, October 24th. The specialty chemicals company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. The business had revenue of $470.50 million during the quarter, compared to the consensus estimate of $487.44 million. W. R. Grace & Co had a net margin of 11.34% and a return on equity of 73.68%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 earnings per share.
A number of other brokerages also recently weighed in on GRA. ValuEngine downgraded shares of W. R. Grace & Co from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Loop Capital decreased their price objective on shares of W. R. Grace & Co from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Co started coverage on shares of W. R. Grace & Co in a research report on Tuesday, October 15th. They issued a “market perform” rating and a $72.00 price objective for the company. Credit Suisse Group decreased their price objective on shares of W. R. Grace & Co from $86.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Robert W. Baird set a $81.00 price objective on shares of W. R. Grace & Co and gave the stock a “buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $84.44.
Shares of W. R. Grace & Co stock opened at $67.16 on Monday. The firm has a 50-day simple moving average of $66.76 and a two-hundred day simple moving average of $71.27. The company has a market cap of $4.47 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 1.27 and a beta of 0.96. W. R. Grace & Co has a fifty-two week low of $59.22 and a fifty-two week high of $79.71. The company has a debt-to-equity ratio of 4.34, a quick ratio of 1.01 and a current ratio of 1.49.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC acquired a new stake in W. R. Grace & Co in the 2nd quarter valued at about $168,858,000. Marshall Wace North America L.P. acquired a new stake in W. R. Grace & Co in the 2nd quarter valued at about $19,746,000. Icon Advisers Inc. Co. acquired a new stake in W. R. Grace & Co in the 2nd quarter valued at about $5,929,000. Putnam Investments LLC raised its holdings in W. R. Grace & Co by 6.0% in the 2nd quarter. Putnam Investments LLC now owns 708,881 shares of the specialty chemicals company’s stock valued at $53,953,000 after acquiring an additional 40,153 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in W. R. Grace & Co in the 2nd quarter valued at about $2,207,000. Hedge funds and other institutional investors own 86.52% of the company’s stock.
In related news, major shareholder North Latitude Master Fund 40 purchased 28,487 shares of W. R. Grace & Co stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $64.87 per share, for a total transaction of $1,847,951.69. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP William C. Dockman purchased 1,000 shares of W. R. Grace & Co stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $68.21 per share, with a total value of $68,210.00. Following the transaction, the vice president now owns 8,675 shares in the company, valued at $591,721.75. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 498,970 shares of company stock valued at $32,047,464. Insiders own 2.00% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.08 annualized dividend and a dividend yield of 1.61%. W. R. Grace & Co’s dividend payout ratio (DPR) is presently 26.09%.
About W. R. Grace & Co
W. R. Grace & Co produces and sells specialty chemicals and materials worldwide. It operates through two segments, Grace Catalysts Technologies and Grace Materials Technologies. The Grace Catalysts Technologies segment offers fluid catalytic cracking (FCC) catalysts for the production of transportation fuels, such as gasoline and diesel fuels, and petrochemicals; FCC additives; and methanol-to-olefins catalysts for the conversion of methanol into petrochemical feeds, including ethylene and propylene.
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