Intrinsic value of W.R. Grace - GRA

Previous Close

$64.20

  Intrinsic Value

$69.50

stock screener

  Rating & Target

hold

+8%

Previous close

$64.20

 
Intrinsic value

$69.50

 
Up/down potential

+8%

 
Rating

hold

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 0001), $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 4.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  13.10
  12.29
  11.56
  10.90
  10.31
  9.78
  9.30
  8.87
  8.49
  8.14
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.22
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
  5.38
Revenue, $m
  1,941
  2,180
  2,432
  2,697
  2,975
  3,266
  3,570
  3,887
  4,217
  4,560
  4,917
  5,288
  5,673
  6,074
  6,490
  6,923
  7,373
  7,841
  8,329
  8,836
  9,365
  9,916
  10,491
  11,091
  11,717
  12,371
  13,054
  13,769
  14,515
  15,297
Variable operating expenses, $m
  1,156
  1,290
  1,432
  1,581
  1,737
  1,900
  2,071
  2,249
  2,434
  2,627
  2,762
  2,970
  3,187
  3,412
  3,645
  3,888
  4,141
  4,404
  4,678
  4,963
  5,260
  5,570
  5,893
  6,230
  6,581
  6,949
  7,332
  7,734
  8,153
  8,592
Fixed operating expenses, $m
  439
  449
  459
  469
  479
  490
  501
  512
  523
  535
  546
  558
  571
  583
  596
  609
  622
  636
  650
  664
  679
  694
  709
  725
  741
  757
  774
  791
  808
  826
Total operating expenses, $m
  1,595
  1,739
  1,891
  2,050
  2,216
  2,390
  2,572
  2,761
  2,957
  3,162
  3,308
  3,528
  3,758
  3,995
  4,241
  4,497
  4,763
  5,040
  5,328
  5,627
  5,939
  6,264
  6,602
  6,955
  7,322
  7,706
  8,106
  8,525
  8,961
  9,418
Operating income, $m
  346
  441
  541
  647
  759
  876
  998
  1,126
  1,260
  1,399
  1,609
  1,760
  1,916
  2,079
  2,249
  2,425
  2,609
  2,801
  3,000
  3,209
  3,426
  3,652
  3,889
  4,136
  4,395
  4,665
  4,948
  5,244
  5,554
  5,879
EBITDA, $m
  508
  615
  728
  848
  973
  1,105
  1,242
  1,386
  1,536
  1,692
  1,854
  2,023
  2,199
  2,382
  2,572
  2,770
  2,977
  3,192
  3,416
  3,649
  3,893
  4,147
  4,412
  4,689
  4,979
  5,282
  5,599
  5,931
  6,278
  6,641
Interest expense (income), $m
  0
  83
  100
  120
  140
  162
  185
  209
  234
  260
  287
  315
  345
  375
  407
  440
  474
  510
  547
  585
  625
  667
  710
  756
  803
  852
  904
  958
  1,014
  1,072
  1,134
Earnings before tax, $m
  262
  341
  422
  507
  597
  691
  790
  892
  1,000
  1,112
  1,294
  1,415
  1,541
  1,672
  1,809
  1,951
  2,100
  2,254
  2,415
  2,583
  2,759
  2,942
  3,133
  3,334
  3,543
  3,762
  3,991
  4,230
  4,482
  4,745
Tax expense, $m
  71
  92
  114
  137
  161
  187
  213
  241
  270
  300
  349
  382
  416
  452
  488
  527
  567
  609
  652
  698
  745
  794
  846
  900
  957
  1,016
  1,077
  1,142
  1,210
  1,281
Net income, $m
  192
  249
  308
  370
  436
  504
  576
  652
  730
  811
  944
  1,033
  1,125
  1,221
  1,321
  1,425
  1,533
  1,646
  1,763
  1,886
  2,014
  2,148
  2,287
  2,433
  2,586
  2,746
  2,913
  3,088
  3,272
  3,464

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
  3,285
  3,689
  4,115
  4,564
  5,034
  5,527
  6,041
  6,577
  7,136
  7,716
  8,320
  8,948
  9,600
  10,277
  10,982
  11,714
  12,475
  13,268
  14,092
  14,951
  15,846
  16,779
  17,751
  18,766
  19,826
  20,932
  22,089
  23,297
  24,561
  25,882
Adjusted assets (=assets-cash), $m
  3,285
  3,689
  4,115
  4,564
  5,034
  5,527
  6,041
  6,577
  7,136
  7,716
  8,320
  8,948
  9,600
  10,277
  10,982
  11,714
  12,475
  13,268
  14,092
  14,951
  15,846
  16,779
  17,751
  18,766
  19,826
  20,932
  22,089
  23,297
  24,561
  25,882
Revenue / Adjusted assets
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
  0.591
Average production assets, $m
  1,239
  1,391
  1,552
  1,721
  1,898
  2,084
  2,278
  2,480
  2,691
  2,909
  3,137
  3,374
  3,620
  3,875
  4,141
  4,417
  4,704
  5,003
  5,314
  5,637
  5,975
  6,326
  6,693
  7,076
  7,476
  7,893
  8,329
  8,784
  9,261
  9,759
Working capital, $m
  155
  174
  195
  216
  238
  261
  286
  311
  337
  365
  393
  423
  454
  486
  519
  554
  590
  627
  666
  707
  749
  793
  839
  887
  937
  990
  1,044
  1,101
  1,161
  1,224
Total debt, $m
  1,850
  2,213
  2,597
  3,001
  3,424
  3,868
  4,330
  4,813
  5,315
  5,838
  6,381
  6,946
  7,533
  8,143
  8,777
  9,436
  10,121
  10,834
  11,576
  12,349
  13,155
  13,994
  14,869
  15,783
  16,737
  17,733
  18,773
  19,861
  20,998
  22,188
Total liabilities, $m
  2,956
  3,320
  3,704
  4,107
  4,531
  4,974
  5,437
  5,920
  6,422
  6,945
  7,488
  8,053
  8,640
  9,250
  9,883
  10,542
  11,228
  11,941
  12,683
  13,456
  14,261
  15,101
  15,976
  16,890
  17,843
  18,839
  19,880
  20,967
  22,105
  23,294
Total equity, $m
  328
  369
  412
  456
  503
  553
  604
  658
  714
  772
  832
  895
  960
  1,028
  1,098
  1,171
  1,248
  1,327
  1,409
  1,495
  1,585
  1,678
  1,775
  1,877
  1,983
  2,093
  2,209
  2,330
  2,456
  2,588
Total liabilities and equity, $m
  3,284
  3,689
  4,116
  4,563
  5,034
  5,527
  6,041
  6,578
  7,136
  7,717
  8,320
  8,948
  9,600
  10,278
  10,981
  11,713
  12,476
  13,268
  14,092
  14,951
  15,846
  16,779
  17,751
  18,767
  19,826
  20,932
  22,089
  23,297
  24,561
  25,882
Debt-to-equity ratio
  5.630
  6.000
  6.310
  6.580
  6.800
  7.000
  7.170
  7.320
  7.450
  7.570
  7.670
  7.760
  7.850
  7.920
  7.990
  8.060
  8.110
  8.170
  8.210
  8.260
  8.300
  8.340
  8.380
  8.410
  8.440
  8.470
  8.500
  8.520
  8.550
  8.570
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
  192
  249
  308
  370
  436
  504
  576
  652
  730
  811
  944
  1,033
  1,125
  1,221
  1,321
  1,425
  1,533
  1,646
  1,763
  1,886
  2,014
  2,148
  2,287
  2,433
  2,586
  2,746
  2,913
  3,088
  3,272
  3,464
Depreciation, amort., depletion, $m
  163
  174
  187
  200
  214
  229
  244
  260
  276
  293
  245
  264
  283
  303
  323
  345
  367
  391
  415
  440
  467
  494
  523
  553
  584
  617
  651
  686
  724
  762
Funds from operations, $m
  354
  423
  495
  570
  650
  733
  820
  911
  1,006
  1,105
  1,190
  1,296
  1,408
  1,524
  1,644
  1,770
  1,900
  2,036
  2,178
  2,326
  2,481
  2,642
  2,810
  2,986
  3,170
  3,363
  3,564
  3,775
  3,995
  4,226
Change in working capital, $m
  18
  19
  20
  21
  22
  23
  24
  25
  26
  27
  29
  30
  31
  32
  33
  35
  36
  37
  39
  41
  42
  44
  46
  48
  50
  52
  55
  57
  60
  62
Cash from operations, $m
  336
  404
  475
  549
  628
  710
  796
  886
  979
  1,077
  1,161
  1,267
  1,377
  1,492
  1,611
  1,735
  1,864
  1,999
  2,139
  2,286
  2,438
  2,598
  2,764
  2,938
  3,120
  3,310
  3,509
  3,717
  3,935
  4,164
Maintenance CAPEX, $m
  -86
  -97
  -109
  -121
  -134
  -148
  -163
  -178
  -194
  -210
  -227
  -245
  -264
  -283
  -303
  -323
  -345
  -367
  -391
  -415
  -440
  -467
  -494
  -523
  -553
  -584
  -617
  -651
  -686
  -724
New CAPEX, $m
  -144
  -152
  -161
  -169
  -177
  -186
  -194
  -202
  -210
  -219
  -228
  -237
  -246
  -256
  -266
  -276
  -287
  -299
  -311
  -324
  -337
  -352
  -367
  -383
  -400
  -417
  -436
  -456
  -476
  -498
Cash from investing activities, $m
  -230
  -249
  -270
  -290
  -311
  -334
  -357
  -380
  -404
  -429
  -455
  -482
  -510
  -539
  -569
  -599
  -632
  -666
  -702
  -739
  -777
  -819
  -861
  -906
  -953
  -1,001
  -1,053
  -1,107
  -1,162
  -1,222
Free cash flow, $m
  107
  155
  205
  259
  316
  376
  439
  506
  575
  648
  706
  785
  867
  953
  1,042
  1,135
  1,232
  1,333
  1,438
  1,547
  1,661
  1,779
  1,903
  2,033
  2,168
  2,309
  2,457
  2,611
  2,773
  2,942
Issuance/(repayment) of debt, $m
  306
  363
  384
  404
  424
  443
  463
  483
  502
  523
  543
  565
  587
  610
  634
  659
  685
  713
  742
  773
  805
  839
  875
  914
  954
  996
  1,041
  1,088
  1,137
  1,190
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  
  306
  363
  384
  404
  424
  443
  463
  483
  502
  523
  543
  565
  587
  610
  634
  659
  685
  713
  742
  773
  805
  839
  875
  914
  954
  996
  1,041
  1,088
  1,137
  1,190
Total cash flow (excl. dividends), $m
  412
  518
  589
  663
  739
  819
  902
  988
  1,078
  1,171
  1,249
  1,350
  1,454
  1,563
  1,676
  1,794
  1,917
  2,046
  2,180
  2,320
  2,466
  2,619
  2,779
  2,946
  3,121
  3,305
  3,497
  3,699
  3,910
  4,131
Retained Cash Flow (-), $m
  -72
  -40
  -43
  -45
  -47
  -49
  -51
  -54
  -56
  -58
  -60
  -63
  -65
  -68
  -70
  -73
  -76
  -79
  -82
  -86
  -89
  -93
  -97
  -102
  -106
  -111
  -116
  -121
  -126
  -132
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
  340
  478
  546
  618
  692
  770
  851
  934
  1,022
  1,112
  1,189
  1,287
  1,389
  1,495
  1,606
  1,721
  1,841
  1,967
  2,097
  2,234
  2,376
  2,526
  2,682
  2,845
  3,015
  3,194
  3,382
  3,578
  3,784
  3,999
Discount rate, %
  9.90
  10.40
  10.91
  11.46
  12.03
  12.64
  13.27
  13.93
  14.63
  15.36
  16.13
  16.93
  17.78
  18.67
  19.60
  20.58
  21.61
  22.69
  23.83
  25.02
  26.27
  27.58
  28.96
  30.41
  31.93
  33.52
  35.20
  36.96
  38.81
  40.75
PV of cash for distribution, $m
  310
  392
  400
  400
  392
  377
  356
  329
  299
  267
  230
  197
  166
  136
  110
  86
  66
  50
  36
  26
  18
  12
  8
  5
  3
  2
  1
  1
  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 46.7
Price to Sales 2.7
Price to Book 11.9
Price to Tangible Book
Price to Cash Flow 15.1
Price to Free Cash Flow 25.2
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 $1716.5 million for the last fiscal year's total revenue generated by W.R. Grace. The default revenue input number comes from 0001 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 13.1% 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 9.9%, 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%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $430 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 63.8%.

Life of production assets of 12.8 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 8%. 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 - $256.4 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 67.238 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 $4.3 billion.

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COMPANY NEWS

▶ W.R. Grace taps new head of $700 million business unit   [Nov-05-18 11:48AM  American City Business Journals]
▶ Grace to Present at Baird 2018 Global Industrial Conference   [Oct-31-18 04:15PM  GlobeNewswire]
▶ W.R. Grace: 3Q Earnings Snapshot   [06:10AM  Associated Press]
▶ Grace Announces Quarterly Dividend   [06:02AM  GlobeNewswire]
▶ BGE gas rate hike would have 'significant impact' on Baltimore industrial plants   [Sep-18-18 09:01AM  American City Business Journals]
▶ 5 Top Chemical Stocks to Buy   [Sep-06-18 03:14PM  InvestorPlace]
▶ The top Baltimore-area performers during the stock market's longest bull run   [Aug-22-18 03:03PM  American City Business Journals]
▶ W.R. Grace: 2Q Earnings Snapshot   [Jul-26-18 06:26AM  Associated Press]
▶ Grace Announces Quarterly Dividend   [06:02AM  GlobeNewswire]
▶ 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]

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