ValuEngine upgraded shares of Graco (NYSE:GGG) from a sell rating to a hold rating in a research note issued to investors on Monday, February 4th.
Several other analysts have also recently weighed in on GGG. Zacks Investment Research upgraded shares of Graco from a hold rating to a buy rating and set a $45.00 price objective for the company in a research note on Friday, October 26th. Seaport Global Securities reiterated a hold rating on shares of Graco in a research note on Wednesday, January 30th. Oppenheimer reiterated a hold rating on shares of Graco in a research note on Monday, October 29th. Royal Bank of Canada reiterated a hold rating and issued a $45.00 price objective on shares of Graco in a research note on Wednesday, December 19th. Finally, SunTrust Banks reiterated a hold rating and issued a $45.00 price objective on shares of Graco in a research note on Monday, October 29th. Eight 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 $46.20.
Shares of NYSE GGG traded up $0.23 during mid-day trading on Monday, reaching $47.19. 549,438 shares of the company were exchanged, compared to its average volume of 647,513. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 2.41. The stock has a market cap of $7.82 billion, a PE ratio of 25.10, a P/E/G ratio of 2.41 and a beta of 1.00. Graco has a twelve month low of $37.36 and a twelve month high of $48.33.
Graco (NYSE:GGG) last posted its earnings results on Monday, January 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $406.40 million during the quarter, compared to analysts’ expectations of $404.14 million. Graco had a net margin of 20.63% and a return on equity of 43.67%. Graco’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 EPS. As a group, analysts predict that Graco will post 2.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, April 12th. Graco’s dividend payout ratio is currently 34.04%.
In other Graco news, VP Angela F. Wordell sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $43.63, for a total value of $109,075.00. Following the transaction, the vice president now directly owns 10,802 shares of the company’s stock, valued at approximately $471,291.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mark W. Sheahan sold 54,000 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $47.17, for a total transaction of $2,547,180.00. Following the completion of the transaction, the chief financial officer now directly owns 113,410 shares in the company, valued at $5,349,549.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,600 shares of company stock worth $3,856,375. Insiders own 5.10% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc bought a new position in Graco in the 4th quarter valued at about $25,000. JOYN Advisors Inc. grew its holdings in shares of Graco by 222.4% during the 4th quarter. JOYN Advisors Inc. now owns 690 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 476 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Graco during the 4th quarter valued at approximately $49,000. Intercontinental Wealth Advisors LLC bought a new stake in shares of Graco during the 4th quarter valued at approximately $61,000. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Graco by 4,085.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,782,062 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 2,715,585 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.
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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