Graco Inc. (NYSE:GGG) insider Dale D. Johnson sold 90,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $47.85, for a total value of $4,306,500.00. Following the completion of the sale, the insider now directly owns 302,873 shares in the company, valued at approximately $14,492,473.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of GGG traded down $0.41 during trading hours on Friday, reaching $47.53. 1,119,772 shares of the company traded hands, compared to its average volume of 621,866. The company has a quick ratio of 1.47, a current ratio of 2.41 and a debt-to-equity ratio of 0.35. The firm has a market cap of $7.96 billion, a P/E ratio of 25.28, a PEG ratio of 2.45 and a beta of 0.97. Graco Inc. has a fifty-two week low of $37.36 and a fifty-two week high of $48.35.
Graco (NYSE:GGG) last posted its quarterly earnings data on Monday, January 28th. The industrial products company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $406.40 million for the quarter, compared to analyst estimates of $404.14 million. Graco had a return on equity of 43.67% and a net margin of 20.63%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. As a group, equities analysts expect that Graco Inc. will post 2.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, April 12th. Graco’s payout ratio is currently 34.04%.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in Graco by 11.4% during the fourth quarter. American Century Companies Inc. now owns 1,506,724 shares of the industrial products company’s stock worth $63,056,000 after buying an additional 154,622 shares during the period. Geode Capital Management LLC lifted its position in Graco by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 1,717,163 shares of the industrial products company’s stock worth $71,862,000 after buying an additional 84,230 shares during the period. Norges Bank purchased a new position in Graco during the fourth quarter worth about $60,813,000. Actinver Wealth Management Inc. purchased a new position in Graco during the fourth quarter worth about $984,000. Finally, FMR LLC lifted its position in Graco by 8.0% during the fourth quarter. FMR LLC now owns 4,898 shares of the industrial products company’s stock worth $205,000 after buying an additional 362 shares during the period. 84.39% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on GGG shares. Royal Bank of Canada reissued a “hold” rating and issued a $45.00 target price on shares of Graco in a report on Wednesday, December 19th. Jefferies Financial Group began coverage on Graco in a report on Friday, January 25th. They issued a “hold” rating and a $46.00 target price on the stock. Seaport Global Securities reaffirmed a “hold” rating on shares of Graco in a research note on Wednesday, January 30th. Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. Finally, ValuEngine raised Graco from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Eight equities research analysts have rated the stock with a hold rating, Graco has an average rating of “Hold” and a consensus price target of $46.20.
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Graco Company Profile
Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.
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