BNP Paribas Arbitrage SA Reduces Position in W. R. Grace & Co (GRA)

BNP Paribas Arbitrage SA cut its holdings in W. R. Grace & Co (NYSE:GRA) by 19.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,872 shares of the specialty chemicals company’s stock after selling 27,501 shares during the period. BNP Paribas Arbitrage SA owned about 0.17% of W. R. Grace & Co worth $8,730,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Iridian Asset Management LLC CT boosted its stake in shares of W. R. Grace & Co by 9.9% during the 4th quarter. Iridian Asset Management LLC CT now owns 2,903,312 shares of the specialty chemicals company’s stock worth $188,454,000 after acquiring an additional 262,599 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of W. R. Grace & Co by 7.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,189,940 shares of the specialty chemicals company’s stock worth $85,033,000 after acquiring an additional 81,487 shares in the last quarter. Norges Bank purchased a new stake in shares of W. R. Grace & Co during the 4th quarter worth approximately $54,688,000. Geode Capital Management LLC boosted its stake in shares of W. R. Grace & Co by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 623,801 shares of the specialty chemicals company’s stock worth $40,490,000 after acquiring an additional 30,216 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of W. R. Grace & Co by 7.6% during the 4th quarter. New York State Common Retirement Fund now owns 288,543 shares of the specialty chemicals company’s stock worth $18,729,000 after acquiring an additional 20,429 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

Several brokerages have recently commented on GRA. BMO Capital Markets set a $90.00 price target on W. R. Grace & Co and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Zacks Investment Research lowered W. R. Grace & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Berenberg Bank initiated coverage on W. R. Grace & Co in a research report on Thursday, March 21st. They set a “buy” rating and a $95.00 price objective for the company. Finally, TheStreet upgraded W. R. Grace & Co from a “c” rating to a “b” rating in a research report on Friday, February 8th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. W. R. Grace & Co has an average rating of “Buy” and an average target price of $86.75.

Shares of W. R. Grace & Co stock traded down $0.72 during trading on Wednesday, hitting $73.01. 407,700 shares of the company were exchanged, compared to its average volume of 492,582. The company has a debt-to-equity ratio of 5.54, a current ratio of 1.54 and a quick ratio of 1.04. The company has a market capitalization of $4.92 billion, a P/E ratio of 17.64, a P/E/G ratio of 1.35 and a beta of 1.03. W. R. Grace & Co has a fifty-two week low of $59.22 and a fifty-two week high of $78.93.

W. R. Grace & Co (NYSE:GRA) last issued its quarterly earnings results on Thursday, April 25th. The specialty chemicals company reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.05. The company had revenue of $469.50 million during the quarter, compared to the consensus estimate of $464.99 million. W. R. Grace & Co had a return on equity of 89.86% and a net margin of 7.55%. W. R. Grace & Co’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 EPS. As a group, research analysts expect that W. R. Grace & Co will post 4.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $1.08 annualized dividend and a yield of 1.48%. W. R. Grace & Co’s dividend payout ratio (DPR) is presently 26.09%.

In other news, VP Mark A. Shelnitz sold 11,792 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $76.36, for a total transaction of $900,437.12. Following the completion of the sale, the vice president now directly owns 76,253 shares in the company, valued at approximately $5,822,679.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP William C. Dockman sold 4,717 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $76.49, for a total value of $360,803.33. Following the sale, the vice president now owns 11,013 shares of the company’s stock, valued at $842,384.37. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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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 petrochemicals; FCC additives; and methanol-to-olefins catalysts for the conversion of methanol into petrochemical feeds, including ethylene and propylene.

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Institutional Ownership by Quarter for W. R. Grace & Co (NYSE:GRA)

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