W. R. Grace & Co (NYSE:GRA) announced a quarterly dividend on Thursday, July 30th, Zacks reports. Shareholders of record on Thursday, August 20th will be paid a dividend of 0.30 per share by the specialty chemicals company on Thursday, September 10th. This represents a $1.20 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Wednesday, August 19th.
W. R. Grace & Co has increased its dividend by an average of 111.8% per year over the last three years and has increased its dividend every year for the last 3 years. W. R. Grace & Co has a dividend payout ratio of 41.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect W. R. Grace & Co to earn $4.10 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 29.3%.
W. R. Grace & Co stock traded down $0.77 during midday trading on Friday, hitting $46.66. The company’s stock had a trading volume of 1,795 shares, compared to its average volume of 336,052. The company has a quick ratio of 1.00, a current ratio of 1.49 and a debt-to-equity ratio of 5.09. The stock’s 50-day moving average price is $50.61 and its 200-day moving average price is $51.80. W. R. Grace & Co has a 12 month low of $26.75 and a 12 month high of $73.36. The company has a market capitalization of $3.31 billion, a PE ratio of 22.06 and a beta of 1.53.
Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of W. R. Grace & Co from $58.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, June 19th. BMO Capital Markets dropped their price target on W. R. Grace & Co from $84.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. ValuEngine raised W. R. Grace & Co from a “sell” rating to a “hold” rating in a research note on Monday, May 4th. Monness Crespi & Hardt dropped their price target on W. R. Grace & Co from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Loop Capital dropped their price target on W. R. Grace & Co from $69.00 to $47.00 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $65.50.
In other news, VP Elizabeth C. Brown purchased 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $51.21 per share, with a total value of $102,420.00. Following the purchase, the vice president now owns 20,378 shares in the company, valued at approximately $1,043,557.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Force Andrew Hudson La III purchased 5,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average cost of $46.37 per share, with a total value of $231,850.00. Following the purchase, the chief executive officer now owns 108,814 shares in the company, valued at approximately $5,045,705.18. The disclosure for this purchase can be found here. Insiders own 0.90% of the company’s stock.
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.
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