Graco (NYSE:GGG) Sets New 1-Year Low – Here’s Why

Graco Inc. (NYSE:GGG) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $78.27 and last traded at $78.9850, with a volume of 115144 shares changing hands. The stock had previously closed at $79.19.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GGG shares. KeyCorp reiterated a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. Jefferies Financial Group upped their price objective on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. DA Davidson reiterated a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research report on Friday, April 24th. Finally, Robert W. Baird decreased their price objective on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $94.25.

Graco Price Performance

The firm has a market cap of $12.92 billion, a PE ratio of 25.36, a PEG ratio of 2.53 and a beta of 0.96. The business’s 50 day moving average price is $86.83 and its 200 day moving average price is $85.45.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The company had revenue of $540.14 million for the quarter, compared to analysts’ expectations of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. As a group, analysts predict that Graco Inc. will post 3.13 earnings per share for the current year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. Graco’s payout ratio is currently 38.44%.

Insider Activity at Graco

In related news, EVP Angela F. Wordell sold 2,832 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $93.22, for a total transaction of $263,999.04. Following the completion of the sale, the executive vice president owned 13,360 shares of the company’s stock, valued at approximately $1,245,419.20. This represents a 17.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy R. White sold 1,469 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total transaction of $133,238.30. Following the sale, the insider directly owned 51,430 shares of the company’s stock, valued at approximately $4,664,701. This represents a 2.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,171 shares of company stock worth $1,543,568 over the last three months. Company insiders own 2.18% of the company’s stock.

Institutional Trading of Graco

Several large investors have recently bought and sold shares of the business. Chicago Partners Investment Group LLC grew its stake in Graco by 186.4% during the 1st quarter. Chicago Partners Investment Group LLC now owns 7,596 shares of the industrial products company’s stock valued at $650,000 after acquiring an additional 4,944 shares in the last quarter. Arbejdsmarkedets Tillaegspension purchased a new stake in Graco during the 1st quarter valued at about $14,840,000. Y.D. More Investments Ltd purchased a new stake in Graco during the 1st quarter valued at about $483,000. Fifth Third Bancorp grew its stake in Graco by 9,716.4% during the 1st quarter. Fifth Third Bancorp now owns 170,412 shares of the industrial products company’s stock valued at $14,425,000 after acquiring an additional 168,676 shares in the last quarter. Finally, Candriam S.C.A. purchased a new stake in Graco during the 1st quarter valued at about $1,677,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.