W.R. Grace & Co. (NYSE:GRA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday, August 7th.
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. “
A number of other analysts have also weighed in on GRA. BidaskClub lowered shares of W.R. Grace & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) lowered shares of W.R. Grace & Co. from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Thursday, June 8th. Monness Crespi & Hardt dropped their target price on shares of W.R. Grace & Co. from $86.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, July 27th. Vertical Research assumed coverage on shares of W.R. Grace & Co. in a report on Thursday, May 25th. They set a “buy” rating and a $81.00 target price for the company. Finally, Aegis reiterated a “buy” rating on shares of W.R. Grace & Co. in a report on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $80.18.
W.R. Grace & Co. (NYSE:GRA) last posted its earnings results on Thursday, July 27th. The specialty chemicals company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.04. The company had revenue of $429.50 million during the quarter, compared to analyst estimates of $407.72 million. W.R. Grace & Co. had a net margin of 8.20% and a return on equity of 43.88%. W.R. Grace & Co.’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. Analysts anticipate that W.R. Grace & Co. will post $3.37 EPS for the current fiscal year.
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In other W.R. Grace & Co. news, VP Mark A. Shelnitz sold 26,853 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $71.44, for a total value of $1,918,378.32. Following the completion of the sale, the vice president now directly owns 83,437 shares in the company, valued at $5,960,739.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in W.R. Grace & Co. by 1.3% in the second quarter. PNC Financial Services Group Inc. now owns 7,814 shares of the specialty chemicals company’s stock valued at $562,000 after buying an additional 101 shares during the last quarter. The Manufacturers Life Insurance Company raised its position 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 buying an additional 133 shares during the last quarter. US Bancorp DE raised its position in W.R. Grace & Co. by 7.2% in the first 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. Prudential Financial Inc. raised its position in W.R. Grace & Co. by 4.6% in the second quarter. Prudential Financial Inc. now owns 4,553 shares of the specialty chemicals company’s stock valued at $328,000 after buying an additional 200 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in W.R. Grace & Co. by 5.1% in the second quarter. Xact Kapitalforvaltning AB now owns 5,533 shares of the specialty chemicals company’s stock valued at $398,000 after buying an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.
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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