Graco Inc. (NYSE:GGG) will be issuing its Q316 quarterly earnings data on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.89 per share and revenue of $331.66 million for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.
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 the Zacks’ consensus estimate of $1.00 by $0.11. The company earned $348.10 million during the quarter, compared to analysts’ expectations of $352.49 million. Graco had a net margin of 15.01% and a return on equity of 30.04%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.05 earnings per share. On average, analysts expect Graco to post $3.37 EPS for the current fiscal year and $3.70 EPS for the next fiscal year.
Graco Inc. (NYSE:GGG) opened at 71.42 on Monday. Graco Inc. has a 12-month low of $63.05 and a 12-month high of $86.62. The company has a 50-day moving average price of $73.48 and a 200-day moving average price of $77.58. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 21.05 and a beta of 1.51.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th will be issued a $0.33 dividend. The ex-dividend date is Thursday, October 13th. This represents a $1.32 annualized dividend and a yield of 1.85%. Graco’s dividend payout ratio (DPR) is presently 38.94%.
In related news, insider Patrick J. Mchale sold 11,500 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $74.19, for a total value of $853,185.00. Following the completion of the sale, the insider now directly owns 142,230 shares in the company, valued at approximately $10,552,043.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp increased 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. Hsbc Holdings PLC increased its stake in shares of Graco by 1.4% in the second quarter. Hsbc Holdings PLC now owns 2,675 shares of the company’s stock valued at $211,000 after buying an additional 36 shares in the last quarter. Stonebridge Capital Advisors LLC increased its stake in shares of Graco by 13.1% in the second quarter. Stonebridge Capital Advisors LLC now owns 2,827 shares of the company’s stock valued at $223,000 after buying an additional 327 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Graco during the second quarter valued at about $226,000. Finally, Advisor Group Inc. bought a new stake in shares of Graco during the second quarter valued at about $313,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.
GGG has been the subject of several analyst reports. William Blair downgraded 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. Deutsche Bank AG initiated coverage on Graco in a report on Tuesday, September 6th. They issued a “hold” rating and a $83.00 price target for the company. Finally, Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Graco presently has an average rating of “Hold” and a consensus target price of $83.75.
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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