Twin Capital Management Inc. Buys New Stake in W. R. Grace & Co (GRA)
Twin Capital Management Inc. acquired a new stake in shares of W. R. Grace & Co (NYSE:GRA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,709 shares of the specialty chemicals company’s stock, valued at approximately $492,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Meadow Creek Investment Management LLC bought a new position in W. R. Grace & Co in the 2nd quarter worth approximately $103,000. Point72 Asia Hong Kong Ltd boosted its holdings in W. R. Grace & Co by 775.6% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,760 shares of the specialty chemicals company’s stock worth $108,000 after buying an additional 1,559 shares during the period. Neuburgh Advisers LLC bought a new position in W. R. Grace & Co in the 2nd quarter worth approximately $142,000. Tyers Asset Management LLC bought a new position in W. R. Grace & Co in the 2nd quarter worth approximately $181,000. Finally, IBM Retirement Fund bought a new position in W. R. Grace & Co in the 2nd quarter worth approximately $222,000. Hedge funds and other institutional investors own 86.02% of the company’s stock.
NYSE:GRA traded up $0.50 during trading hours on Friday, hitting $71.62. The stock had a trading volume of 261,991 shares, compared to its average volume of 470,998. The company has a debt-to-equity ratio of 6.66, a current ratio of 1.57 and a quick ratio of 0.96. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.48 and a beta of 1.34. W. R. Grace & Co has a one year low of $58.48 and a one year high of $77.37.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Thursday, August 16th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Wednesday, August 15th. W. R. Grace & Co’s dividend payout ratio (DPR) is currently 28.24%.
GRA has been the subject of several analyst reports. Seaport Global Securities reaffirmed a “buy” rating and issued a $85.00 price objective on shares of W. R. Grace & Co in a report on Tuesday, July 31st. Zacks Investment Research raised shares of W. R. Grace & Co from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Wednesday, July 4th. Credit Suisse Group raised their price objective on shares of W. R. Grace & Co from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Monness Crespi & Hardt raised their price target on shares of W. R. Grace & Co from $83.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 27th. Finally, Jefferies Financial Group raised shares of W. R. Grace & Co from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. W. R. Grace & Co has an average rating of “Buy” and an average target price of $84.44.
W. R. Grace & Co 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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