B. Riley reissued their hold rating on shares of Graco (NYSE:GGG) in a research note released on Wednesday, December 20th. B. Riley currently has a $46.67 price target on the industrial products company’s stock.
A number of other research firms also recently weighed in on GGG. SunTrust Banks restated a hold rating and issued a $42.67 price target on shares of Graco in a research note on Friday, October 27th. ValuEngine downgraded Graco from a buy rating to a hold rating in a research note on Friday, December 1st. Robert W. Baird restated a hold rating and issued a $45.00 price target on shares of Graco in a research note on Friday, October 27th. KeyCorp reaffirmed a hold rating on shares of Graco in a report on Friday, October 20th. Finally, Zacks Investment Research cut Graco from a buy rating to a hold rating in a report on Friday, November 3rd. Thirteen investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and a consensus price target of $41.67.
Shares of Graco (NYSE GGG) opened at $47.02 on Wednesday. The firm has a market capitalization of $2,640.00, a PE ratio of 75.84, a PEG ratio of 2.80 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.46 and a current ratio of 2.23. Graco has a 12-month low of $28.06 and a 12-month high of $47.44.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Graco had a return on equity of 42.05% and a net margin of 7.72%. The firm had revenue of $379.81 million for the quarter, compared to the consensus estimate of $356.30 million. During the same quarter last year, the business posted $0.32 EPS. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. research analysts forecast that Graco will post 1.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Monday, January 22nd will be paid a $0.3975 dividend. This is a positive change from Graco’s previous quarterly dividend of $0.36. This represents a $1.59 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, January 19th. Graco’s dividend payout ratio is presently 77.42%.
In other news, insider Daniel Stolyarov sold 500,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $0.11, for a total value of $55,000.00. Also, CFO Christian E. Rothe sold 12,750 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $132.01, for a total value of $1,683,127.50. Following the completion of the sale, the chief financial officer now directly owns 16,905 shares of the company’s stock, valued at approximately $2,231,629.05. The disclosure for this sale can be found here. Insiders sold 734,752 shares of company stock valued at $18,245,690 over the last quarter. Insiders own 5.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of GGG. Vanguard Group Inc. lifted its stake 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 worth $545,481,000 after acquiring an additional 104,725 shares in the last quarter. BlackRock Inc. lifted its stake 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 worth $482,397,000 after acquiring an additional 43,669 shares in the last quarter. Fiera Capital Corp lifted its stake 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 worth $330,196,000 after acquiring an additional 206,130 shares in the last quarter. Confluence Investment Management LLC lifted its stake in shares of Graco by 195.2% in the fourth quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock worth $106,147,000 after acquiring an additional 1,552,175 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of Graco by 6.6% in the third quarter. Parametric Portfolio Associates LLC now owns 655,299 shares of the industrial products company’s stock worth $81,054,000 after acquiring an additional 40,284 shares in the last quarter. 28.75% of the stock is owned by institutional investors.
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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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