W. R. Grace & Co (GRA) Trading Down 8%
W. R. Grace & Co (NYSE:GRA) fell 8% during mid-day trading on Thursday . The stock traded as low as $64.47 and last traded at $65.51. 2,925,054 shares were traded during trading, an increase of 363% from the average session volume of 632,013 shares. The stock had previously closed at $71.21.
A number of equities research analysts have recently weighed in on GRA shares. Zacks Investment Research raised W. R. Grace & Co from a “strong sell” rating to a “hold” rating and set a $85.00 price objective for the company in a research note on Friday, October 27th. Jefferies Group reaffirmed a “hold” rating and issued a $77.00 price objective on shares of W. R. Grace & Co in a research note on Thursday, October 26th. KeyCorp reaffirmed an “overweight” rating and issued a $84.00 price objective (up from $77.00) on shares of W. R. Grace & Co in a research note on Thursday, October 26th. Finally, TheStreet cut W. R. Grace & Co from a “b-” rating to a “c” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $81.56.
The company has a current ratio of 1.59, a quick ratio of 1.06 and a debt-to-equity ratio of 3.83. The firm has a market capitalization of $4,439.17, a P/E ratio of 405.25, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 1st will be paid a $0.24 dividend. The ex-dividend date is Wednesday, February 28th. This is a boost from W. R. Grace & Co’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.48%. W. R. Grace & Co’s payout ratio is presently 525.00%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. acquired a new position in W. R. Grace & Co during the 4th quarter worth $113,000. Cerebellum GP LLC acquired a new position in W. R. Grace & Co during the 4th quarter worth $124,000. The Manufacturers Life Insurance Company grew its stake in W. R. Grace & Co by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,487 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 133 shares in the last quarter. Toronto Dominion Bank grew its stake in W. R. Grace & Co by 244.1% during the 3rd quarter. Toronto Dominion Bank now owns 2,887 shares of the specialty chemicals company’s stock worth $208,000 after purchasing an additional 2,048 shares in the last quarter. Finally, US Bancorp DE grew its stake in W. R. Grace & Co by 87.7% during the 4th quarter. US Bancorp DE now owns 2,943 shares of the specialty chemicals company’s stock worth $206,000 after purchasing an additional 1,375 shares in the last quarter. 84.90% of the stock is owned by hedge funds and other institutional investors.
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About W. R. Grace & Co
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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