Graco Inc. (NYSE:GGG) Director Jack W. Eugster sold 17,924 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $48.24, for a total value of $864,653.76. Following the completion of the transaction, the director now owns 114,678 shares in the company, valued at approximately $5,532,066.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of NYSE GGG traded up $0.44 during trading hours on Wednesday, hitting $47.98. The stock had a trading volume of 648,500 shares, compared to its average volume of 528,032. The company has a market capitalization of $8.06 billion, a P/E ratio of 25.52, a P/E/G ratio of 2.32 and a beta of 0.96. The firm’s 50-day moving average price is $46.99 and its two-hundred day moving average price is $47.48. Graco Inc. has a 52 week low of $38.59 and a 52 week high of $53.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.68 and a current ratio of 2.69.
Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). The business had revenue of $400.60 million for the quarter, compared to analyst estimates of $418.93 million. Graco had a return on equity of 36.17% and a net margin of 20.29%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. As a group, analysts expect that Graco Inc. will post 1.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Friday, October 18th. Graco’s payout ratio is presently 34.04%.
GGG has been the topic of a number of research reports. ValuEngine downgraded Graco from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Royal Bank of Canada set a $46.00 target price on Graco and gave the company a “hold” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $47.75.
Hedge funds have recently made changes to their positions in the company. Nuveen Asset Management LLC bought a new position in shares of Graco in the second quarter worth $29,612,000. BlackRock Inc. raised its stake in Graco by 3.5% during the 2nd quarter. BlackRock Inc. now owns 15,382,636 shares of the industrial products company’s stock valued at $771,901,000 after buying an additional 517,850 shares during the last quarter. Millennium Management LLC raised its stake in Graco by 130.7% during the 3rd quarter. Millennium Management LLC now owns 533,640 shares of the industrial products company’s stock valued at $24,568,000 after buying an additional 302,330 shares during the last quarter. WCM Investment Management LLC raised its stake in Graco by 10.1% during the 2nd quarter. WCM Investment Management LLC now owns 1,932,293 shares of the industrial products company’s stock valued at $96,963,000 after buying an additional 177,159 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Graco during the 3rd quarter valued at $7,730,000. Institutional investors own 84.11% of the company’s stock.
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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