Zacks Investment Research cut shares of Graco Inc. (NYSE:GGG) from a buy rating to a hold rating in a research note released on Friday, November 3rd.
According to Zacks, “Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial settings. Based in Minneapolis, Minnesota, Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. It designs, manu-factures and markets systems and equipment to move, measure, control, dispense and apply fluid materials. The Company helps customers solve difficult manufacturing problems, increase productivity, improve quality, conserve energy, and save expensive materials. “
GGG has been the subject of a number of other research reports. BidaskClub raised Graco from a hold rating to a buy rating in a research report on Friday, August 18th. Robert W. Baird reissued a hold rating and issued a $135.00 price objective on shares of Graco in a report on Friday, October 27th. KeyCorp reissued a hold rating on shares of Graco in a report on Friday, October 20th. Wolfe Research restated a market perform rating on shares of Graco in a research note on Tuesday, August 1st. Finally, Royal Bank Of Canada restated a hold rating on shares of Graco in a research note on Friday, July 28th. Eleven research analysts have rated the stock with a hold rating, The stock currently has an average rating of Hold and an average target price of $116.75.
Shares of Graco (NYSE GGG) traded down $1.23 during mid-day trading on Friday, hitting $130.87. The stock had a trading volume of 184,429 shares, compared to its average volume of 278,308. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31. The company has a market cap of $7,379.97, a PE ratio of 28.71, a PEG ratio of 2.87 and a beta of 1.25. Graco has a one year low of $80.75 and a one year high of $134.11.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.09. Graco had a return on equity of 42.05% and a net margin of 7.72%. The business had revenue of $379.81 million during the quarter, compared to analyst estimates of $356.30 million. During the same period in the previous year, the firm earned $0.95 EPS. Graco’s quarterly revenue was up 16.1% compared to the same quarter last year. analysts anticipate that Graco will post 4.36 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Monday, October 16th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, October 13th. Graco’s payout ratio is currently 75.79%.
In related news, insider Daniel Stolyarov sold 500,000 shares of the firm’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, Director Eric Etchart sold 757 shares of Graco stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $119.20, for a total value of $90,234.40. Following the sale, the director now directly owns 12,464 shares in the company, valued at $1,485,708.80. The disclosure for this sale can be found here. Insiders sold 734,018 shares of company stock worth $19,672,731 over the last ninety days. 5.70% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. BB&T Corp raised its position in shares of Graco by 0.4% during the second quarter. BB&T Corp now owns 2,567 shares of the industrial products company’s stock worth $280,000 after acquiring an additional 11 shares during the last quarter. Somerset Trust Co raised its position in shares of Graco by 0.4% during the second quarter. Somerset Trust Co now owns 5,093 shares of the industrial products company’s stock worth $557,000 after acquiring an additional 21 shares during the last quarter. BB&T Securities LLC raised its position in shares of Graco by 0.5% during the second quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock worth $757,000 after acquiring an additional 36 shares during the last quarter. Commerce Bank raised its position in shares of Graco by 1.5% during the second quarter. Commerce Bank now owns 4,038 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 60 shares during the last quarter. Finally, WCM Investment Management CA raised its position in shares of Graco by 2.1% during the second quarter. WCM Investment Management CA now owns 3,695 shares of the industrial products company’s stock worth $404,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 86.67% of the company’s stock.
Graco Company Profile
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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