Zacks Investment Research upgraded shares of W. R. Grace & Co (NYSE:GRA) from a strong sell rating to a hold rating in a research note released on Thursday.
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 commented on the stock. Jefferies Group reiterated a hold rating on shares of W. R. Grace & Co in a research report on Tuesday, October 3rd. KeyCorp reiterated an overweight rating and set a $84.00 price target (up previously from $77.00) on shares of W. R. Grace & Co in a research report on Thursday, October 26th. Finally, Loop Capital initiated coverage on shares of W. R. Grace & Co in a research report on Thursday, September 28th. They set a buy rating and a $81.00 price target for the company. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $81.60.
W. R. Grace & Co (NYSE:GRA) last issued its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.90 EPS for the quarter, topping the 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 company had revenue of $429.50 million during the quarter, compared to analysts’ expectations of $411.50 million. During the same quarter in the previous year, the company earned $0.80 EPS. W. R. Grace & Co’s revenue was up 6.2% on a year-over-year basis. sell-side analysts anticipate that W. R. Grace & Co will post 3.39 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of GRA. Point72 Asset Management L.P. grew its holdings in W. R. Grace & Co by 2,472.5% during the third quarter. Point72 Asset Management L.P. now owns 905,520 shares of the specialty chemicals company’s stock valued at $65,333,000 after purchasing an additional 870,320 shares during the period. Alleghany Corp DE acquired a new position in W. R. Grace & Co during the third quarter valued at approximately $25,973,000. Vanguard Group Inc. grew its holdings in W. R. Grace & Co by 1.7% during the second quarter. Vanguard Group Inc. now owns 5,895,867 shares of the specialty chemicals company’s stock valued at $424,561,000 after purchasing an additional 98,017 shares during the period. Crestline Management LP acquired a new position in W. R. Grace & Co during the third quarter valued at approximately $4,690,000. Finally, Dimensional Fund Advisors LP grew its holdings in W. R. Grace & Co by 21.1% during the second quarter. Dimensional Fund Advisors LP now owns 360,448 shares of the specialty chemicals company’s stock valued at $25,955,000 after purchasing an additional 62,804 shares during the period. Hedge funds and other institutional investors own 84.79% of the company’s stock.
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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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