uploads///Part  CHEM GRA

W.R. Grace Declares a Quarterly Dividend


Oct. 30 2018, Updated 9:01 a.m. ET

W.R. Grace declares a quarterly dividend

On October 24, W.R. Grace (GRA) announced its regular quarterly dividend. GRA declared a dividend of $0.24 per share, implying dividend growth of 14.30% on a year-over-year basis.

To benefit from this dividend, investors should hold GRA shares by the close of trading on November 14. Grace is expected to pay the dividend on December 5.

At the end of the third quarter, Grace had 67.20 million common shares outstanding. If Grace doesn’t buy back any shares, it will be paying a dividend of $16.12 million.

Article continues below advertisement

Stock update

GRA stock reported strong third-quarter earnings results, beating analysts’ estimate on both the top and bottom lines. This performance resulted in GRA rising 1.4% for the week and closing at $65.64. Despite its gains, GRA was trading 8.2% below its 100-day moving average price of $71.50, indicating prevailing weakness in its stock.

Year-to-date, GRA has fallen 6.4%. However, analysts project an upside for GRA and have recommended a target price of $83.1, which implies a potential return of 26.6% based on its October 26 closing price. GRA’s 14-day relative strength index of 39 suggests that the stock is neither overbought nor oversold.

Investors can indirectly hold GRA by investing in the iShares U.S. Basic Materials ETF (IYM), which has invested 0.7% of its portfolio in GRA. The fund also has exposure to DowDuPont (DWDP), Praxair (PX), and LyondellBasell (LYB) at weights of 19.9%, 7.9%, and 4.7%, respectively, as of October 26.


More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.