William J. Carroll Sells 6,000 Shares of Graco Inc. (NYSE:GGG) Stock

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Graco Inc. (NYSE:GGG) Director William J. Carroll sold 6,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $46.53, for a total value of $279,180.00. Following the transaction, the director now directly owns 49,984 shares in the company, valued at approximately $2,325,755.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of GGG traded down $0.25 during trading hours on Friday, hitting $46.65. 379,629 shares of the stock traded hands, compared to its average volume of 534,832. The company has a current ratio of 2.22, a quick ratio of 1.39 and a debt-to-equity ratio of 0.19. Graco Inc. has a 1-year low of $37.36 and a 1-year high of $53.91. The firm has a market capitalization of $7.71 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 2.10 and a beta of 0.98. The business has a fifty day moving average of $46.24 and a 200-day moving average of $48.92.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). Graco had a net margin of 20.61% and a return on equity of 39.22%. The company had revenue of $428.30 million during the quarter, compared to analyst estimates of $444.93 million. During the same period in the previous year, the company posted $0.48 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts expect that Graco Inc. will post 1.91 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in GGG. Geode Capital Management LLC lifted its stake in Graco by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 1,717,163 shares of the industrial products company’s stock valued at $71,862,000 after buying an additional 84,230 shares during the period. Janney Montgomery Scott LLC acquired a new position in Graco in the first quarter valued at about $707,000. Janus Henderson Group PLC lifted its stake in Graco by 15.3% in the first quarter. Janus Henderson Group PLC now owns 13,710 shares of the industrial products company’s stock valued at $679,000 after buying an additional 1,816 shares during the period. Stephens Inc. AR lifted its stake in Graco by 17.1% in the first quarter. Stephens Inc. AR now owns 6,133 shares of the industrial products company’s stock valued at $304,000 after buying an additional 897 shares during the period. Finally, OLD National Bancorp IN acquired a new position in Graco in the first quarter valued at about $262,000. 84.24% of the stock is currently owned by hedge funds and other institutional investors.

GGG has been the topic of several research reports. Zacks Investment Research raised Graco from a “sell” rating to a “hold” rating and set a $49.00 price target on the stock in a research note on Wednesday, May 29th. Robert W. Baird set a $50.00 price target on Graco and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, ValuEngine lowered Graco from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.20.

Graco Company Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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