Intrinsic value of W.R. Grace - GRA

Previous Close

$73.67

  Intrinsic Value

$41.98

stock screener

  Rating & Target

sell

-43%

Previous close

$73.67

 
Intrinsic value

$41.98

 
Up/down potential

-43%

 
Rating

sell

We calculate the intrinsic value of GRA stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 5.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.40
  7.16
  6.94
  6.75
  6.57
  6.42
  6.28
  6.15
  6.03
  5.93
  5.84
  5.75
  5.68
  5.61
  5.55
  5.49
  5.44
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
  5.19
  5.17
  5.16
  5.14
  5.13
  5.11
Revenue, $m
  1,844
  1,976
  2,113
  2,256
  2,404
  2,559
  2,719
  2,886
  3,060
  3,242
  3,431
  3,629
  3,835
  4,050
  4,274
  4,509
  4,755
  5,012
  5,280
  5,561
  5,856
  6,164
  6,486
  6,825
  7,179
  7,550
  7,939
  8,347
  8,775
  9,224
Variable operating expenses, $m
  1,107
  1,182
  1,259
  1,340
  1,423
  1,511
  1,601
  1,696
  1,794
  1,896
  1,937
  2,049
  2,165
  2,287
  2,414
  2,546
  2,685
  2,830
  2,982
  3,140
  3,306
  3,481
  3,663
  3,854
  4,054
  4,263
  4,483
  4,714
  4,955
  5,209
Fixed operating expenses, $m
  436
  446
  456
  466
  476
  487
  497
  508
  519
  531
  542
  554
  567
  579
  592
  605
  618
  632
  646
  660
  674
  689
  704
  720
  736
  752
  768
  785
  803
  820
Total operating expenses, $m
  1,543
  1,628
  1,715
  1,806
  1,899
  1,998
  2,098
  2,204
  2,313
  2,427
  2,479
  2,603
  2,732
  2,866
  3,006
  3,151
  3,303
  3,462
  3,628
  3,800
  3,980
  4,170
  4,367
  4,574
  4,790
  5,015
  5,251
  5,499
  5,758
  6,029
Operating income, $m
  301
  348
  398
  450
  505
  561
  621
  682
  747
  815
  951
  1,025
  1,103
  1,184
  1,269
  1,358
  1,452
  1,550
  1,653
  1,761
  1,875
  1,994
  2,119
  2,251
  2,389
  2,535
  2,688
  2,849
  3,017
  3,195
EBITDA, $m
  519
  578
  640
  703
  770
  840
  912
  988
  1,067
  1,150
  1,236
  1,326
  1,421
  1,520
  1,624
  1,732
  1,846
  1,966
  2,091
  2,223
  2,361
  2,506
  2,658
  2,817
  2,985
  3,162
  3,347
  3,541
  3,746
  3,961
Interest expense (income), $m
  0
  83
  92
  103
  114
  126
  138
  151
  164
  178
  192
  207
  223
  239
  256
  274
  292
  312
  332
  353
  375
  398
  423
  448
  475
  502
  532
  562
  594
  628
  663
Earnings before tax, $m
  217
  256
  295
  336
  379
  423
  470
  518
  569
  622
  744
  802
  864
  928
  995
  1,066
  1,140
  1,218
  1,300
  1,386
  1,476
  1,571
  1,671
  1,777
  1,887
  2,003
  2,126
  2,254
  2,390
  2,532
Tax expense, $m
  59
  69
  80
  91
  102
  114
  127
  140
  154
  168
  201
  217
  233
  250
  269
  288
  308
  329
  351
  374
  399
  424
  451
  480
  510
  541
  574
  609
  645
  684
Net income, $m
  159
  187
  216
  245
  276
  309
  343
  378
  415
  454
  543
  586
  630
  677
  726
  778
  832
  889
  949
  1,012
  1,078
  1,147
  1,220
  1,297
  1,378
  1,462
  1,552
  1,646
  1,744
  1,848

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,126
  3,349
  3,582
  3,824
  4,075
  4,337
  4,609
  4,892
  5,187
  5,495
  5,815
  6,150
  6,499
  6,864
  7,245
  7,643
  8,059
  8,494
  8,949
  9,426
  9,925
  10,447
  10,994
  11,567
  12,168
  12,797
  13,457
  14,148
  14,873
  15,634
Adjusted assets (=assets-cash), $m
  3,126
  3,349
  3,582
  3,824
  4,075
  4,337
  4,609
  4,892
  5,187
  5,495
  5,815
  6,150
  6,499
  6,864
  7,245
  7,643
  8,059
  8,494
  8,949
  9,426
  9,925
  10,447
  10,994
  11,567
  12,168
  12,797
  13,457
  14,148
  14,873
  15,634
Revenue / Adjusted assets
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
Average production assets, $m
  1,531
  1,640
  1,754
  1,872
  1,996
  2,124
  2,257
  2,396
  2,540
  2,691
  2,848
  3,012
  3,183
  3,361
  3,548
  3,743
  3,946
  4,160
  4,383
  4,616
  4,860
  5,116
  5,384
  5,664
  5,958
  6,267
  6,590
  6,928
  7,284
  7,656
Working capital, $m
  22
  24
  25
  27
  29
  31
  33
  35
  37
  39
  41
  44
  46
  49
  51
  54
  57
  60
  63
  67
  70
  74
  78
  82
  86
  91
  95
  100
  105
  111
Total debt, $m
  1,706
  1,907
  2,117
  2,334
  2,560
  2,796
  3,041
  3,296
  3,561
  3,838
  4,127
  4,428
  4,742
  5,070
  5,413
  5,771
  6,146
  6,538
  6,947
  7,376
  7,825
  8,295
  8,787
  9,303
  9,844
  10,410
  11,004
  11,626
  12,279
  12,963
Total liabilities, $m
  2,813
  3,014
  3,224
  3,441
  3,668
  3,903
  4,148
  4,403
  4,668
  4,945
  5,234
  5,535
  5,849
  6,177
  6,520
  6,878
  7,253
  7,645
  8,054
  8,483
  8,932
  9,402
  9,895
  10,410
  10,951
  11,517
  12,111
  12,733
  13,386
  14,070
Total equity, $m
  313
  335
  358
  382
  408
  434
  461
  489
  519
  549
  582
  615
  650
  686
  724
  764
  806
  849
  895
  943
  992
  1,045
  1,099
  1,157
  1,217
  1,280
  1,346
  1,415
  1,487
  1,563
Total liabilities and equity, $m
  3,126
  3,349
  3,582
  3,823
  4,076
  4,337
  4,609
  4,892
  5,187
  5,494
  5,816
  6,150
  6,499
  6,863
  7,244
  7,642
  8,059
  8,494
  8,949
  9,426
  9,924
  10,447
  10,994
  11,567
  12,168
  12,797
  13,457
  14,148
  14,873
  15,633
Debt-to-equity ratio
  5.460
  5.690
  5.910
  6.100
  6.280
  6.450
  6.600
  6.740
  6.870
  6.990
  7.100
  7.200
  7.300
  7.390
  7.470
  7.550
  7.630
  7.700
  7.760
  7.830
  7.880
  7.940
  7.990
  8.040
  8.090
  8.130
  8.180
  8.220
  8.260
  8.290
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  159
  187
  216
  245
  276
  309
  343
  378
  415
  454
  543
  586
  630
  677
  726
  778
  832
  889
  949
  1,012
  1,078
  1,147
  1,220
  1,297
  1,378
  1,462
  1,552
  1,646
  1,744
  1,848
Depreciation, amort., depletion, $m
  219
  230
  241
  253
  265
  278
  291
  305
  320
  335
  285
  301
  318
  336
  355
  374
  395
  416
  438
  462
  486
  512
  538
  566
  596
  627
  659
  693
  728
  766
Funds from operations, $m
  377
  417
  457
  498
  542
  587
  634
  684
  735
  789
  828
  887
  949
  1,013
  1,081
  1,152
  1,227
  1,305
  1,387
  1,473
  1,564
  1,659
  1,758
  1,863
  1,973
  2,089
  2,211
  2,338
  2,473
  2,614
Change in working capital, $m
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
Cash from operations, $m
  376
  415
  455
  497
  540
  585
  632
  682
  733
  787
  826
  884
  946
  1,011
  1,079
  1,149
  1,224
  1,302
  1,384
  1,470
  1,560
  1,655
  1,755
  1,859
  1,969
  2,085
  2,206
  2,334
  2,468
  2,609
Maintenance CAPEX, $m
  -142
  -153
  -164
  -175
  -187
  -200
  -212
  -226
  -240
  -254
  -269
  -285
  -301
  -318
  -336
  -355
  -374
  -395
  -416
  -438
  -462
  -486
  -512
  -538
  -566
  -596
  -627
  -659
  -693
  -728
New CAPEX, $m
  -106
  -110
  -114
  -118
  -123
  -128
  -133
  -139
  -145
  -151
  -157
  -164
  -171
  -179
  -187
  -195
  -204
  -213
  -223
  -233
  -244
  -256
  -268
  -281
  -294
  -308
  -323
  -339
  -355
  -372
Cash from investing activities, $m
  -248
  -263
  -278
  -293
  -310
  -328
  -345
  -365
  -385
  -405
  -426
  -449
  -472
  -497
  -523
  -550
  -578
  -608
  -639
  -671
  -706
  -742
  -780
  -819
  -860
  -904
  -950
  -998
  -1,048
  -1,100
Free cash flow, $m
  128
  153
  177
  203
  230
  258
  287
  317
  349
  382
  399
  436
  474
  514
  556
  600
  646
  694
  745
  798
  854
  913
  975
  1,040
  1,109
  1,181
  1,256
  1,336
  1,420
  1,508
Issuance/(repayment) of debt, $m
  162
  201
  209
  218
  226
  235
  245
  255
  266
  277
  289
  301
  314
  328
  343
  358
  375
  392
  410
  429
  449
  470
  492
  516
  540
  566
  594
  622
  653
  684
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  162
  201
  209
  218
  226
  235
  245
  255
  266
  277
  289
  301
  314
  328
  343
  358
  375
  392
  410
  429
  449
  470
  492
  516
  540
  566
  594
  622
  653
  684
Total cash flow (excl. dividends), $m
  290
  354
  387
  421
  456
  493
  532
  572
  615
  659
  688
  737
  788
  842
  899
  958
  1,020
  1,086
  1,155
  1,227
  1,303
  1,383
  1,467
  1,556
  1,649
  1,747
  1,850
  1,958
  2,072
  2,192
Retained Cash Flow (-), $m
  -57
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -30
  -31
  -32
  -33
  -35
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -52
  -55
  -57
  -60
  -63
  -66
  -69
  -73
  -76
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  233
  332
  363
  396
  431
  467
  504
  544
  585
  628
  656
  704
  753
  806
  861
  918
  979
  1,042
  1,109
  1,180
  1,253
  1,331
  1,413
  1,499
  1,589
  1,684
  1,784
  1,889
  2,000
  2,116
Discount rate, %
  9.80
  10.29
  10.80
  11.34
  11.91
  12.51
  13.13
  13.79
  14.48
  15.20
  15.96
  16.76
  17.60
  18.48
  19.40
  20.37
  21.39
  22.46
  23.58
  24.76
  26.00
  27.30
  28.67
  30.10
  31.61
  33.19
  34.85
  36.59
  38.42
  40.34
PV of cash for distribution, $m
  212
  273
  267
  258
  245
  230
  213
  194
  173
  153
  129
  110
  92
  75
  60
  47
  36
  27
  20
  14
  10
  7
  4
  3
  2
  1
  1
  0
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

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. The Grace Materials Technologies segment includes specialty materials, including silica-based and silica-alumina-based materials, used in coatings, consumer, industrial, and pharmaceutical applications. It Grace Catalysts Technologies segment produces and sells catalysts and related products and technologies used in refining, petrochemical and other chemical manufacturing applications, including Fluid catalytic cracking catalysts (FCC), Hydroprocessing catalysts (HPC), and Polyolefin catalysts and catalyst supports.

FINANCIAL RATIOS  of  W.R. Grace (GRA)

Valuation Ratios
P/E Ratio 53.5
Price to Sales 3.1
Price to Book 13.6
Price to Tangible Book
Price to Cash Flow 17.3
Price to Free Cash Flow 28.9
Growth Rates
Sales Growth Rate -1.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -1.7%
Cap. Spend. - 3 Yr. Gr. Rate -5.6%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 408.4%
Total Debt to Equity 429.3%
Interest Coverage 0
Management Effectiveness
Return On Assets 2.9%
Ret/ On Assets - 3 Yr. Avg. 9.6%
Return On Total Capital 4.3%
Ret/ On T. Cap. - 3 Yr. Avg. 9.5%
Return On Equity 32.6%
Return On Equity - 3 Yr. Avg. 47.4%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 41%
Gross Margin - 3 Yr. Avg. 39.6%
EBITDA Margin 16.6%
EBITDA Margin - 3 Yr. Avg. 28.6%
Operating Margin 10.4%
Oper. Margin - 3 Yr. Avg. 9.4%
Pre-Tax Margin 10.4%
Pre-Tax Margin - 3 Yr. Avg. 9.4%
Net Profit Margin 5.9%
Net Profit Margin - 3 Yr. Avg. 10.1%
Effective Tax Rate 35.5%
Eff/ Tax Rate - 3 Yr. Avg. 20.1%
Payout Ratio 38.3%

GRA stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GRA stock intrinsic value calculation we used $1717 million for the last fiscal year's total revenue generated by W.R. Grace. The default revenue input number comes from 2017 income statement of W.R. Grace. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GRA stock valuation model: a) initial revenue growth rate of 7.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 9.8%, whose default value for GRA is calculated based on our internal credit rating of W.R. Grace, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of W.R. Grace.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GRA stock the variable cost ratio is equal to 60.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $427 million in the base year in the intrinsic value calculation for GRA stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for W.R. Grace.

Corporate tax rate of 27% is the nominal tax rate for W.R. Grace. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GRA stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GRA are equal to 83%.

Life of production assets of 10 years is the average useful life of capital assets used in W.R. Grace operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GRA is equal to 1.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $256 million for W.R. Grace - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 68 million for W.R. Grace is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of W.R. Grace at the current share price and the inputted number of shares is $5.0 billion.

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COMPANY NEWS

▶ Chemical Production on the Upswing: 5 Growth Stocks to Buy   [Jul-06-18 11:10AM  InvestorPlace]
▶ Grace to Attend BMOs 2018 Chemicals Conference   [Jun-20-18 05:22PM  GlobeNewswire]
▶ Grace Board Elects Yanai Independent Director   [May-09-18 04:35PM  GlobeNewswire]
▶ W. R. Grace & Co. to Host Earnings Call   [Apr-25-18 07:00AM  ACCESSWIRE]
▶ W.R. Grace: 1Q Earnings Snapshot   [06:13AM  Associated Press]
▶ Grace Announces Quarterly Dividend   [06:02AM  GlobeNewswire]
▶ Grace Reports First Quarter 2018 Results   [06:00AM  GlobeNewswire]
▶ W.R. Grace Stock Surges on Renewed Takeover Chatter   [Apr-10-18 11:33AM  TheStreet.com]
▶ Grace Announces Release Date for First Quarter 2018 Results   [Apr-04-18 04:30PM  GlobeNewswire]
▶ W R. Grace & Co. (NYSE:GRA): Are Analysts Bullish?   [Mar-28-18 03:18PM  Simply Wall St.]
▶ Are W R. Grace & Co.s (NYSE:GRA) Interest Costs Too High?   [Mar-20-18 12:22PM  Simply Wall St.]
▶ What Is W R. Grace & Co.s (NYSE:GRA) Share Price Doing?   [Mar-05-18 02:11PM  Simply Wall St.]
▶ Grace Hosts 2018 Investor Day Today in New York City   [Mar-02-18 08:00AM  GlobeNewswire]
▶ Weekly CFO Buys Highlight   [Feb-22-18 04:01PM  GuruFocus.com]
▶ W. R. Grace & Co. to Host Earnings Call   [Feb-08-18 06:50AM  ACCESSWIRE]
▶ W.R. Grace reports 4Q loss   [06:25AM  Associated Press]
▶ Grace to Increase Dividend 14 Percent   [06:02AM  GlobeNewswire]
▶ Baltimore-area companies feel the effects of stock market plunge   [Feb-06-18 04:53PM  American City Business Journals]
▶ Grace Wins Sherwin-Williams Certified Supplier Award   [Jan-25-18 04:47PM  GlobeNewswire]
▶ Analyzing Albemarles Short Interest Trend   [Jan-08-18 07:33AM  Market Realist]
▶ Albemarle and W.R. Grace in a Definitive Agreement   [Dec-19-17 07:52AM  Market Realist]
▶ Grace to Acquire Polyolefin Catalysts Business   [Dec-14-17 05:00PM  GlobeNewswire]
▶ W.R. Grace Signs a Spree of New Contracts   [Dec-04-17 11:08AM  Market Realist]
▶ Why Albemarles Dividend Yield Is on a Free Fall   [Nov-30-17 09:50AM  Market Realist]
▶ Albemarles 4Q17 Dividend: When Will It Pay?   [08:16AM  Market Realist]
▶ Did W R Grace & Co (GRA) Create Value For Shareholders?   [Nov-24-17 02:15PM  Simply Wall St.]
▶ Grace to Present at Citi 2017 Basic Materials Conference   [Nov-21-17 09:00AM  GlobeNewswire]
▶ W.R. Grace Hikes Silica-Based Product Prices   [Nov-13-17 11:32AM  Market Realist]
▶ Grace to Host 2018 Investor Day   [Nov-10-17 09:00AM  GlobeNewswire]
▶ W.R. Grace CEO Fred Festa to step down   [Nov-03-17 10:20AM  American City Business Journals]
▶ Grace to Present at Baird 2017 Global Industrial Conference   [Oct-31-17 09:00AM  GlobeNewswire]
▶ W. R. Grace & Co. to Host Earnings Call   [Oct-25-17 06:20AM  ACCESSWIRE]
▶ W.R. Grace beats 3Q profit forecasts   [06:09AM  Associated Press]
▶ Grace Announces Quarterly Dividend   [06:01AM  GlobeNewswire]
▶ Grace Reports Third Quarter 2017 Results   [06:00AM  GlobeNewswire]
▶ New Strong Sell Stocks for October 24th   [Oct-24-17 08:57AM  Zacks]
▶ Grace Obtains License for Drug Delivery from Formac   [Oct-16-17 11:36AM  Market Realist]
▶ Grace Announces Release Date for Third Quarter 2017 Results   [Oct-05-17 09:00AM  GlobeNewswire]
▶ Whats Wall Streets View of W.R. Grace?   [Sep-22-17 03:36PM  Market Realist]
▶ Grace Donates $100,000 to Hurricane Harvey Relief   [Sep-07-17 09:00AM  GlobeNewswire]
▶ Grace to Participate in Upcoming Investor Conferences   [Sep-05-17 09:00AM  GlobeNewswire]
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