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Global Sell-Off and Chemical Updates for Week Ended February 9

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Part 2
Global Sell-Off and Chemical Updates for Week Ended February 9 PART 2 OF 4

W.R. Grace Declares a 14.3% Raise in Its Cash Dividends

W.R. Grace raises its dividend

W.R. Grace (GRA) announced that its board of directors approved a 14.0% increase in its regular annual cash dividend. In 2018, GRA expects to pay a cash dividend of $0.96 per share, an increase of 14.3% over 2017. 

In 2017, GRA paid a cash dividend of $0.84 per share, which would be effective in 1Q18. GRA declared a dividend of $0.24 per share for 1Q18. Shareholders as of March 1, 2018, would receive this dividend, which is expected to be paid on March 22, 2018.

W.R. Grace Declares a 14.3% Raise in Its Cash Dividends

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The increase in the dividend and the fall in the stock price has helped improve GRA’s current dividend yield. On February 9, 2018, GRA’s current dividend yield stood at 1.48%. 

GRA’s peers Albemarle (ALB), FMC (FMC), and LyondellBasell (LYB) have current dividend yields of 1.2%, 0.80%, and 3.4%, respectively. GRA’s current dividend yield is also lower than the yield generated from the one-year Treasuries. Its current yield makes it a difficult option for the long-term investors who focus on dividend income.

Stock price update

W.R. Grace (GRA) stock price fell 10.0% and closed at $64.84 for the week ended February 9, 2018. The decline in its stock price resulted in GRA trading 10.50% below its 100-day moving average price of $72.43, indicating weakness in the stock. 

However, GRA’s 14-day relative strength index of 25 indicates that the stock temporarily moved into an oversold position. 

Analysts have projected GRA’sts target price to be $85.00, which implies a return potential of 31.1% over its February 9, 2018, closing price.

Investors can gain broad-based exposure to GRA via the iShares US Basic Materials ETF (IYM). IYM invested 0.60% of its portfolio in W.R. Grace on February 9, 2018.

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