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GRA W.R. Grace & Co.

W.R. Grace & Co. engages in the production and sale of chemicals and materials. It operates through the Grace Catalysts Technologies and Grace Materials Technologies segments. 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 materials, including silica-based and silica-alumina-based materials, used in coatings, consumer, industrial, and pharmaceutical applications. The company was founded by William Russell Grace in 1854 and is headquartered in Columbia, MD.

Company profile

Ticker
GRA
Exchange
Website
CEO
Andrew La Force
Employees
Incorporated
Location
Fiscal year end
Former names
GRACE SPECIALTY CHEMICALS INC
SEC CIK
IRS number
650773649

GRA stock data

(
)

Calendar

7 May 21
13 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 292.5M 292.5M 292.5M 292.5M 292.5M 292.5M
Cash burn (monthly) 4.57M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 11.09M n/a n/a n/a n/a n/a
Cash remaining 281.41M n/a n/a n/a n/a n/a
Runway (months of cash) 61.6 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 May 21 Cummings Robert F JR Common Stock, par value $0.01 per share Grant Aquire A No No 0 1,683 0 18,823
11 May 21 Julie Fasone Holder Common Stock, par value $0.01 per share Grant Aquire A No No 0 1,683 0 8,474
11 May 21 Diane H. Gulyas Common Stock, par value $0.01 per share Grant Aquire A No No 0 1,683 0 14,823
11 May 21 Slack Henry R Common Stock, par value $0.01 per share Grant Aquire A No No 0 1,683 0 5,495
11 May 21 Mark E Tomkins Common Stock, par value $0.01 per share Grant Aquire A No No 0 1,683 0 24,823

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

82.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 243 236 +3.0%
Opened positions 45 62 -27.4%
Closed positions 38 33 +15.2%
Increased positions 71 58 +22.4%
Reduced positions 79 81 -2.5%
13F shares
Current Prev Q Change
Total value 8.49B 3.13B +171.5%
Total shares 54.92M 57.06M -3.7%
Total puts 15K 285.6K -94.7%
Total calls 58K 224.3K -74.1%
Total put/call ratio 0.3 1.3 -79.7%
Largest owners
Shares Value Change
40 North Management 9.87M $590.52M 0.0%
Vanguard 5.82M $348.38M +2.7%
Soroban Capital Partners 2.73M $163.51M 0.0%
BLK Blackrock 2.73M $163.2M +4.1%
Russell Investments 2.51M $150.07M -16.6%
FMR 2.22M $132.9M -7.7%
Temasek 2.19M $130.94M 0.0%
Lyrical Asset Management 2.06M $123.59M +6.7%
Diamond Hill Capital Management 1.75M $104.63M -5.8%
Cantillon Capital Management 1.58M $94.77M -3.1%
Largest transactions
Shares Bought/sold Change
TPG 0 -1.75M EXIT
Norges Bank 0 -588.79K EXIT
Nuveen Asset Management 212.78K -584.42K -73.3%
Segantii Capital Management 509.11K +509.11K NEW
Russell Investments 2.51M -500.49K -16.6%
P Schoenfeld Asset Management 573.94K +456.44K +388.5%
Partners Capital Investment 0 -356.5K EXIT
Assenagon Asset Management 9.55K -329.67K -97.2%
Millennium Management 351.18K +320.89K +1059.4%
Jana Partners 0 -306.91K EXIT

Financial report summary

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Competition
Albemarle
Risks
  • The global COVID-19 pandemic has had a significant negative effect on certain industries into which we supply products and services, and on our financial results. The pandemic is expected to continue to negatively impact our operations and businesses until successfully controlled.
  • The global scope of our operations subjects us to the risks of doing business in foreign countries, which could adversely affect our business, financial condition and results of operations.
  • As we operate worldwide in a competitive environment, global economic and financial market conditions may adversely affect our business, financial condition and results of operations.
  • We are exposed to currency exchange rate changes that impact our profitability.
  • Prices for certain raw materials and energy are volatile and can have a significant effect on our manufacturing and supply chain strategies as we seek to maximize our profitability. If we are unable to successfully adjust our strategies in response to volatile raw materials and energy prices, such volatility could have a negative effect on our earnings in future periods.
  • A substantial portion of our raw materials are commodities whose prices fluctuate as market supply and demand fundamentals change.
  • If we are not able to continue our technological innovation and successful introduction of new products, our customers may turn to other suppliers to meet their requirements.
  • We may be subject to claims of infringement of the intellectual property rights of others, which could hurt our business.
  • Some of our employees are unionized, represented by works councils or employed subject to local laws that are less favorable to employers than the laws in the United States.
  • We intend to pursue acquisitions, joint ventures and other transactions that complement or expand our businesses. We may not be able to complete proposed transactions and even if completed, the transactions may involve a number of risks that may materially and adversely affect our business, financial condition and results of operations.
  • We spend large amounts of money for environmental compliance in connection with our current and former operations.
  • Evolving energy consumption patterns; investor sentiment regarding fossil fuels and related matters; and risks related to climate change, may negatively affect our business, financial condition, and results of operations, and our stock price.
  • We work with dangerous materials that can injure our employees, damage our facilities, disrupt our operations, and contaminate the environment.
  • We are subject to business continuity risks that may adversely affect our business, financial condition and results of operations.
  • A failure of our information technology (“IT”) infrastructure could adversely impact our business and operations.
  • Our ability to operate our businesses and our financial condition could be significantly undermined by cybersecurity breaches.
  • Risks Related to Legacy Matters
  • We are subject to liabilities for Legacy Matters, which include (i) product, (ii) environmental, and (iii) other liabilities, relating to past activities of Grace.
  • We are subject to environmental clean-up costs, fines, penalties and damage claims that have been and continue to be costly.
  • We may be required to make one or more contingent deferred payments to the trust for asbestos property damage claims, which we refer to as the “PD Trust,” in respect of claims related to our former Zonolite attic insulation (“ZAI”) product (“ZAI PD Claims”); we may also be obligated to make additional payments to the PD Trust in respect of “Other PD Claims” (those being asbestos property damage claims other than ZAI PD Claims); and our obligations to make payments to the PD Trust in respect of Other PD Claims is not capped.
  • Risks Related to Financial Matters
  • Our indebtedness may materially affect our business, including our ability to fulfill our obligations, react to changes in our business and incur additional debt to fund future needs.
  • Restrictions imposed by agreements governing our indebtedness may limit our ability to operate our business, finance our future operations or capital needs, or engage in other business activities. If we fail to comply with certain restrictions under these agreements, our debt could be accelerated, and we may not have sufficient cash to pay our accelerated debt.
  • Our indebtedness exposes us to interest expense increases if interest rates increase.
  • The uncertainty regarding the potential phase-out of LIBOR may negatively impact our operating results.
  • We have unfunded and underfunded pension plan liabilities. We will require future operating cash flow to fund these liabilities. We have no assurance that we will generate sufficient cash to satisfy these obligations.
  • Our ability to use tax credits and / or net operating losses to reduce future tax payments may be limited if there is a change in ownership of Grace or if Grace does not generate sufficient taxable income or foreign source income for U.S. tax purposes. Our ability to use these attributes is also subject to time limitations. Changes in tax laws and regulations may reduce their value and availability.
  • Our business and stock price could be negatively impacted as a result of actions by activist shareholders or others.
Management Discussion
  • ITEM 2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  • We generally refer to the quarter ended March 31, 2021, as the “first quarter” and the quarter ended March 31, 2020, as the “prior-year quarter.” Our references to “advanced economies” and “emerging regions” refer to classifications established by the International Monetary Fund. See Analysis of Operations for a discussion of our non-GAAP performance measures.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
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