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 topic of several other reports. William Blair lowered shares of Graco from an outperform rating to a market perform rating and cut their price target for the stock from $89.00 to $78.00 in a report on Thursday, July 21st. Deutsche Bank AG initiated coverage on shares of Graco in a research note on Tuesday, September 6th. They set a hold rating and a $83.00 price objective for the company. Finally, KeyCorp initiated coverage on shares of Graco in a research note on Wednesday, May 25th. They set a sector weight rating for the company. Nine equities research analysts have rated the stock with a hold rating, Graco currently has a consensus rating of Hold and a consensus price target of $83.75.
Shares of Graco (NYSE:GGG) opened at 73.54 on Tuesday. Graco has a 52 week low of $63.05 and a 52 week high of $86.62. The firm has a 50-day moving average price of $74.04 and a 200-day moving average price of $78.54. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 21.67 and a beta of 1.54.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.11. Graco had a return on equity of 30.04% and a net margin of 15.01%. The firm earned $348.10 million during the quarter, compared to analysts’ expectations of $352.49 million. During the same period in the prior year, the firm posted $1.05 earnings per share. Graco’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Graco will post $3.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Monday, October 17th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.32 dividend on an annualized basis and a yield of 1.79%. Graco’s dividend payout ratio is presently 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 transaction of $853,185.00. Following the completion of the transaction, the insider now directly owns 142,230 shares in the company, valued at $10,552,043.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning boosted its position in Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock worth $107,000 after buying an additional 165 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Graco by 0.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,584 shares of the company’s stock worth $135,000 after buying an additional 12 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Graco by 292.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,336 shares of the company’s stock worth $185,000 after buying an additional 1,741 shares during the last quarter. Fifth Third Bancorp boosted its position in Graco by 4.6% in the second quarter. Fifth Third Bancorp now owns 2,476 shares of the company’s stock worth $196,000 after buying an additional 110 shares during the last quarter. Finally, Princeton Alpha Management LP purchased a new position in Graco during the second quarter worth $204,000. Institutional investors own 90.60% of the company’s stock.
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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