According to Zacks, “Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial settings. Based in Minneapolis, Minnesota, Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. It designs, manu-factures and markets systems and equipment to move, measure, control, dispense and apply fluid materials. The Company helps customers solve difficult manufacturing problems, increase productivity, improve quality, conserve energy, and save expensive materials. “
GGG has been the subject of several other reports. William Blair downgraded shares of Graco from an outperform rating to a market perform rating and lowered their price objective for the company from $89.00 to $78.00 in a research report on Thursday, July 21st. Deutsche Bank AG assumed coverage on shares of Graco in a research report on Tuesday, September 6th. They set a hold rating and a $83.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, The company currently has a consensus rating of Hold and a consensus target price of $83.75.
Shares of Graco (NYSE:GGG) opened at 74.19 on Monday. The company’s 50-day moving average price is $74.01 and its 200-day moving average price is $78.35. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 21.87 and a beta of 1.54. Graco has a 52-week low of $63.05 and a 52-week high of $86.62.
Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.00 by $0.11. Graco had a net margin of 15.01% and a return on equity of 30.04%. The firm had revenue of $348.10 million for the quarter, compared to analyst estimates of $352.49 million. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that Graco will post $3.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Monday, October 17th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.78%. Graco’s dividend payout ratio is 38.94%.
In related news, insider Patrick J. Mchale sold 11,500 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $74.19, for a total value of $853,185.00. Following the sale, the insider now owns 142,230 shares of the company’s stock, valued at $10,552,043.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of GGG. Creative Planning boosted its stake in shares of Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock valued at $107,000 after buying an additional 165 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Graco by 0.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,584 shares of the company’s stock valued at $135,000 after buying an additional 12 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Graco by 292.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,336 shares of the company’s stock valued at $185,000 after buying an additional 1,741 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Graco by 4.6% in the second quarter. Fifth Third Bancorp now owns 2,476 shares of the company’s stock valued at $196,000 after buying an additional 110 shares in the last quarter. Finally, Princeton Alpha Management LP acquired a new stake in shares of Graco during the second quarter valued at $204,000. 90.60% of the stock is currently owned by institutional investors.
Graco Company Profile
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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