W. R. Grace & Co (NYSE:GRA) Sees Large Drop in Short Interest

W. R. Grace & Co (NYSE:GRA) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 712,300 shares, a drop of 11.0% from the June 30th total of 800,500 shares. Based on an average daily volume of 465,800 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.1% of the company’s stock are short sold.

NYSE:GRA traded down $1.86 during trading hours on Wednesday, hitting $63.11. 546,300 shares of the company traded hands, compared to its average volume of 492,115. The company has a debt-to-equity ratio of 5.06, a quick ratio of 1.01 and a current ratio of 1.48. The business’s 50-day simple moving average is $73.39. W. R. Grace & Co has a one year low of $59.22 and a one year high of $79.71. The firm has a market cap of $4.38 billion, a P/E ratio of 15.24, a PEG ratio of 1.26 and a beta of 1.02.

W. R. Grace & Co (NYSE:GRA) last issued its quarterly earnings data on Thursday, July 25th. The specialty chemicals company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. The business had revenue of $513.60 million for the quarter, compared to analysts’ expectations of $508.65 million. W. R. Grace & Co had a return on equity of 85.42% and a net margin of 9.31%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. On average, analysts forecast that W. R. Grace & Co will post 4.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, August 14th. W. R. Grace & Co’s payout ratio is 26.09%.

In related news, insider Force Andrew Hudson La III acquired 4,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were acquired at an average cost of $69.04 per share, for a total transaction of $276,160.00. Following the purchase, the insider now owns 96,391 shares in the company, valued at $6,654,834.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William C. Dockman acquired 1,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $68.21 per share, for a total transaction of $68,210.00. Following the completion of the purchase, the vice president now owns 8,675 shares in the company, valued at approximately $591,721.75. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of W. R. Grace & Co by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 623,801 shares of the specialty chemicals company’s stock valued at $40,490,000 after acquiring an additional 30,216 shares in the last quarter. Huntington National Bank bought a new position in shares of W. R. Grace & Co in the first quarter valued at approximately $26,000. Highland Capital Management LLC bought a new position in shares of W. R. Grace & Co in the first quarter valued at approximately $1,173,000. Private Capital Group LLC boosted its holdings in shares of W. R. Grace & Co by 24.9% in the first quarter. Private Capital Group LLC now owns 1,249 shares of the specialty chemicals company’s stock valued at $97,000 after acquiring an additional 249 shares in the last quarter. Finally, James Investment Research Inc. bought a new position in shares of W. R. Grace & Co in the first quarter valued at approximately $680,000. Institutional investors own 85.84% of the company’s stock.

Several equities analysts have weighed in on the company. BMO Capital Markets set a $83.00 price objective on W. R. Grace & Co and gave the company a “buy” rating in a research note on Friday, July 26th. Robert W. Baird set a $81.00 price objective on W. R. Grace & Co and gave the company a “buy” rating in a research note on Friday, July 26th. ValuEngine cut W. R. Grace & Co from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, Zacks Investment Research upgraded W. R. Grace & Co from a “sell” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $85.50.

W. R. Grace & Co Company Profile

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.

Further Reading: How is a management fee different from a performance fee?

Receive News & Ratings for W. R. Grace & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. R. Grace & Co and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit