Graco Inc. (NYSE:GGG) VP Charles L. Rescorla sold 47,000 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $129.93, for a total transaction of $6,106,710.00. Following the transaction, the vice president now directly owns 108,802 shares in the company, valued at $14,136,643.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Graco Inc. (NYSE GGG) opened at $128.82 on Tuesday. The company has a market cap of $7,306.44, a PE ratio of 28.42, a PEG ratio of 2.85 and a beta of 1.25. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. Graco Inc. has a 1-year low of $79.83 and a 1-year high of $134.11.
Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.09. The company had revenue of $379.81 million during the quarter, compared to the consensus estimate of $356.30 million. Graco had a net margin of 7.72% and a return on equity of 42.05%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. sell-side analysts expect that Graco Inc. will post 4.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.12%. Graco’s dividend payout ratio is currently 75.79%.
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Several research analysts have weighed in on GGG shares. B. Riley restated a “neutral” rating on shares of Graco in a report on Wednesday, November 1st. BidaskClub upgraded shares of Graco from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Robert W. Baird restated a “hold” rating and set a $135.00 price objective on shares of Graco in a report on Friday, October 27th. KeyCorp restated a “hold” rating on shares of Graco in a report on Friday, October 20th. Finally, Wolfe Research restated a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Eleven investment analysts have rated the stock with a hold rating, Graco currently has a consensus rating of “Hold” and an average price target of $116.75.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Graco by 2.1% in the second quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock valued at $545,481,000 after purchasing an additional 104,725 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Graco by 1.0% in the second quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock valued at $482,397,000 after purchasing an additional 43,669 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of Graco by 7.3% in the second quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after purchasing an additional 206,130 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Graco by 22.8% in the second quarter. Russell Investments Group Ltd. now owns 650,753 shares of the industrial products company’s stock valued at $71,160,000 after purchasing an additional 120,916 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Graco by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 626,628 shares of the industrial products company’s stock valued at $77,514,000 after purchasing an additional 30,413 shares during the last quarter. Institutional investors own 86.40% of the company’s stock.
Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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