Seeing as W.R. Grace & Co. (NYSE:GRA) has witnessed declining sentiment from hedge fund managers, we can see that there were a few hedgies who sold off their entire stakes in the third quarter. At the top of the heap, Jean-Marie Eveillard’s First Eagle Investment Management dropped the largest investment of all the hedgies tracked by Insider Monkey, valued at about $82.2 million in stock. Rob Citrone’s fund, Discovery Capital Management, also sold off its stock, about $14.2 million worth. These bearish behaviors are interesting, as aggregate hedge fund interest dropped by 8 funds in the third quarter.
Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as W.R. Grace & Co. (NYSE:GRA) but similarly valued. We will take a look at WABCO Holdings Inc. (NYSE:WBC), Casey’s General Stores, Inc. (NASDAQ:CASY), The Hain Celestial Group, Inc. (NASDAQ:HAIN), and Highwoods Properties Inc (NYSE:HIW). This group of stocks’ market valuations are closest to GRA’s market valuation.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $594 million. That figure was $1.32 billion in GRA’s case. WABCO Holdings Inc. (NYSE:WBC) is the most popular stock in this table. On the other hand Highwoods Properties Inc (NYSE:HIW) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks W.R. Grace & Co. (NYSE:GRA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.