Rhumbline Advisers decreased its position in W. R. Grace & Co (NYSE:GRA) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,952 shares of the specialty chemicals company’s stock after selling 1,460 shares during the quarter. Rhumbline Advisers’ holdings in W. R. Grace & Co were worth $4,927,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Comerica Bank acquired a new stake in shares of W. R. Grace & Co in the third quarter valued at $1,260,000. Russell Investments Group Ltd. lifted its holdings in shares of W. R. Grace & Co by 1,262.0% in the third quarter. Russell Investments Group Ltd. now owns 112,529 shares of the specialty chemicals company’s stock valued at $8,042,000 after buying an additional 104,267 shares during the period. Oakbrook Investments LLC acquired a new stake in shares of W. R. Grace & Co in the third quarter valued at $279,000. Nomura Holdings Inc. lifted its holdings in shares of W. R. Grace & Co by 611.9% in the second quarter. Nomura Holdings Inc. now owns 36,999 shares of the specialty chemicals company’s stock valued at $2,713,000 after buying an additional 31,802 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of W. R. Grace & Co in the second quarter valued at $1,106,000. Institutional investors and hedge funds own 86.96% of the company’s stock.
Several analysts have recently weighed in on GRA shares. ValuEngine lowered W. R. Grace & Co from a “hold” rating to a “sell” rating in a report on Monday, August 20th. KeyCorp cut their price objective on W. R. Grace & Co from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, October 25th. BMO Capital Markets set a $86.00 price objective on W. R. Grace & Co and gave the company a “buy” rating in a report on Thursday, October 25th. Finally, Zacks Investment Research upgraded W. R. Grace & Co from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. W. R. Grace & Co has an average rating of “Buy” and a consensus target price of $82.11.
W. R. Grace & Co (NYSE:GRA) last announced its earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.02 by $0.09. W. R. Grace & Co had a positive return on equity of 98.65% and a negative net margin of 1.31%. The business had revenue of $494.90 million during the quarter, compared to the consensus estimate of $472.23 million. During the same period in the prior year, the business posted $0.90 earnings per share. W. R. Grace & Co’s revenue was up 15.2% compared to the same quarter last year. On average, research analysts anticipate that W. R. Grace & Co will post 4.01 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 5th. Stockholders of record on Wednesday, November 14th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Tuesday, November 13th. W. R. Grace & Co’s dividend payout ratio is 28.24%.
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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 other petroleum-based products; FCC additives; and methanol-to-olefins catalysts for the conversion of methanol into petrochemical feeds, including ethylene and propylene.
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