Graco Inc. (NYSE:GGG) has been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $49.04.
A number of brokerages have commented on GGG. DA Davidson began coverage on shares of Graco in a research note on Thursday, April 12th. They issued a “neutral” rating and a $48.00 price objective for the company. Zacks Investment Research cut shares of Graco from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, ValuEngine raised shares of Graco from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd.
Get Graco alerts:Shares of Graco traded up $0.29, reaching $47.29, on Friday, MarketBeat reports. The company’s stock had a trading volume of 594,021 shares, compared to its average volume of 525,481. Graco has a 52-week low of $34.89 and a 52-week high of $49.69. The stock has a market capitalization of $7.88 billion, a P/E ratio of 33.07, a PEG ratio of 2.41 and a beta of 1.14. The company has a quick ratio of 1.60, a current ratio of 2.55 and a debt-to-equity ratio of 0.39.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 25th. The industrial products company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. Graco had a net margin of 17.99% and a return on equity of 41.12%. The business had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $369.61 million. During the same period last year, the company posted $1.05 EPS. The business’s revenue was up 19.3% on a year-over-year basis. analysts expect that Graco will post 1.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Sunday, July 15th will be paid a dividend of $0.1325 per share. The ex-dividend date is Thursday, July 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.12%. Graco’s dividend payout ratio is presently 37.06%.
In related news, VP Jeffrey P. Johnson sold 90,000 shares of Graco stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $47.06, for a total transaction of $4,235,400.00. Following the completion of the transaction, the vice president now directly owns 48,971 shares of the company’s stock, valued at approximately $2,304,575.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jeffrey P. Johnson sold 5,534 shares of Graco stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $46.35, for a total transaction of $256,500.90. Following the transaction, the vice president now directly owns 48,971 shares of the company’s stock, valued at $2,269,805.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 347,204 shares of company stock valued at $15,838,068. 5.10% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Graco by 3.0% during the 1st quarter. BlackRock Inc. now owns 14,423,083 shares of the industrial products company’s stock worth $659,424,000 after purchasing an additional 420,393 shares during the period. Fiera Capital Corp boosted its position in Graco by 3.3% in the 1st quarter. Fiera Capital Corp now owns 9,490,109 shares of the industrial products company’s stock valued at $433,888,000 after buying an additional 301,624 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in Graco by 5.3% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,672,685 shares of the industrial products company’s stock valued at $259,356,000 after buying an additional 286,419 shares during the period. Russell Investments Group Ltd. boosted its position in Graco by 12.2% in the 1st quarter. Russell Investments Group Ltd. now owns 2,088,179 shares of the industrial products company’s stock valued at $95,035,000 after buying an additional 227,135 shares during the period. Finally, Northern Trust Corp boosted its position in Graco by 140.5% in the 1st quarter. Northern Trust Corp now owns 1,298,830 shares of the industrial products company’s stock valued at $59,383,000 after buying an additional 758,808 shares during the period. 85.94% of the stock is owned by hedge funds and other institutional investors.
About Graco
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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