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. “
A number of other research analysts have also recently commented on the stock. Deutsche Bank AG initiated coverage on shares of Graco in a research report on Tuesday, September 6th. They set a hold rating and a $83.00 target price on the stock. William Blair cut shares of Graco from an outperform rating to a market perform rating and cut their price target for the company from $89.00 to $78.00 in a report on Thursday, July 21st. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $83.75.
Shares of Graco (NYSE:GGG) traded down 0.06% during midday trading on Wednesday, hitting $70.03. 30,505 shares of the company’s stock were exchanged. The stock has a market cap of $3.90 billion, a PE ratio of 20.64 and a beta of 1.51. The stock’s 50 day moving average is $73.69 and its 200-day moving average is $77.70. Graco has a 1-year low of $63.05 and a 1-year high of $86.62.
Graco (NYSE:GGG) last released its earnings results on Wednesday, July 20th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by $0.11. Graco had a net margin of 15.01% and a return on equity of 30.04%. The company earned $348.10 million during the quarter, compared to analysts’ expectations of $352.49 million. During the same quarter in the previous 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. Analysts predict that Graco will post $3.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Monday, October 17th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.88%. Graco’s dividend payout ratio is currently 38.94%.
In other news, insider Patrick J. Mchale sold 11,500 shares of the company’s stock in a transaction dated 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 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 can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in GGG. Creative Planning raised its position in 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. Tower Research Capital LLC TRC raised its position 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 worth $185,000 after buying an additional 1,741 shares in the last quarter. Fifth Third Bancorp raised its position in shares of 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 in the last quarter. Princeton Alpha Management LP bought a new position in shares of Graco during the second quarter worth about $204,000. Finally, Hsbc Holdings PLC raised its position in shares of Graco by 1.4% in the second quarter. Hsbc Holdings PLC now owns 2,675 shares of the company’s stock worth $211,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Graco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.