W.R. Grace & Co. (NYSE:GRA) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Shareholders of record on Wednesday, November 15th will be paid a dividend of 0.21 per share by the specialty chemicals company on Thursday, December 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Tuesday, November 14th.
W.R. Grace & Co. has a dividend payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect W.R. Grace & Co. to earn $3.68 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 22.8%.
W.R. Grace & Co. (NYSE:GRA) opened at $71.11 on Monday. W.R. Grace & Co. has a 52 week low of $63.37 and a 52 week high of $77.37. The firm has a market capitalization of $4,818.64, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.75 and a beta of 1.20. The company has a current ratio of 1.59, a quick ratio of 1.06 and a debt-to-equity ratio of 3.83.
W.R. Grace & Co. (NYSE:GRA) last issued its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.09. The business had revenue of $429.50 million for the quarter, compared to analyst estimates of $411.50 million. W.R. Grace & Co. had a return on equity of 48.03% and a net margin of 8.54%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. sell-side analysts expect that W.R. Grace & Co. will post 3.39 earnings per share for the current year.
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Several research analysts recently weighed in on the company. BidaskClub lowered W.R. Grace & Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered W.R. Grace & Co. from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Loop Capital assumed coverage on W.R. Grace & Co. in a research report on Thursday, September 28th. They issued a “buy” rating and a $81.00 target price on the stock. KeyCorp reaffirmed a “buy” rating and issued a $77.00 target price on shares of W.R. Grace & Co. in a research report on Sunday, September 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $77.00 target price on shares of W.R. Grace & Co. in a research report on Thursday, October 26th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $81.36.
An institutional investor recently raised its position in W.R. Grace & Co. stock. The Manufacturers Life Insurance Company boosted its stake in W.R. Grace & Co. (NYSE:GRA) by 5.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,487 shares of the specialty chemicals company’s stock after purchasing an additional 133 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in W.R. Grace & Co. were worth $179,000 at the end of the most recent reporting period. 85.73% of the stock is currently owned by hedge funds and other institutional investors.
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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