Graco (NYSE:GGG) Issues Earnings Results

Graco (NYSE:GGG) posted its earnings results on Tuesday. The industrial products company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.01, MarketWatch Earnings reports. Graco had a net margin of 20.99% and a return on equity of 30.60%. The firm had revenue of $507.16 million for the quarter, compared to analyst estimates of $478.01 million. During the same period in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year.

Shares of NYSE GGG traded down $2.26 during midday trading on Thursday, reaching $76.06. The stock had a trading volume of 14,465 shares, compared to its average volume of 641,551. The company has a market cap of $12.89 billion, a price-to-earnings ratio of 37.30, a price-to-earnings-growth ratio of 3.89 and a beta of 0.59. Graco has a twelve month low of $52.10 and a twelve month high of $79.37. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.52 and a current ratio of 3.48. The firm has a 50 day simple moving average of $75.29.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 4th. Stockholders of record on Monday, July 19th will be given a $0.1875 dividend. The ex-dividend date is Friday, July 16th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.99%. Graco’s dividend payout ratio (DPR) is currently 38.46%.

In other news, insider Dale D. Johnson sold 19,297 shares of the business’s stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $77.05, for a total value of $1,486,833.85. Following the transaction, the insider now owns 194,105 shares in the company, valued at approximately $14,955,790.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lee R. Mitau sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 27th. The stock was sold at an average price of $77.02, for a total transaction of $1,386,360.00. Following the completion of the transaction, the director now owns 184,262 shares in the company, valued at approximately $14,191,859.24. The disclosure for this sale can be found here. 3.63% of the stock is currently owned by insiders.

GGG has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Graco from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, April 23rd. Royal Bank of Canada boosted their target price on shares of Graco from $81.00 to $89.00 and gave the stock an “outperform” rating in a report on Friday, April 23rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $76.00.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; 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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Earnings History for Graco (NYSE:GGG)

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