Graco Inc. (NYSE:GGG) Releases Earnings Results, Beats Estimates By $0.32 EPS
Graco Inc. (NYSE:GGG) announced its quarterly earnings data on Wednesday. The industrial products company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.32, Bloomberg Earnings reports. The company had revenue of $379.50 million for the quarter, compared to analysts’ expectations of $369.36 million. Graco had a return on equity of 35.25% and a net margin of 4.53%. Graco’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $0.89 EPS.
Graco (GGG) traded down 1.73% during trading on Wednesday, reaching $105.91. The company had a trading volume of 615,889 shares. The firm’s 50 day moving average is $110.33 and its 200 day moving average is $99.90. Graco has a one year low of $69.33 and a one year high of $114.65. The company has a market capitalization of $5.88 billion, a PE ratio of 98.80 and a beta of 1.24.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Monday, July 17th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, July 13th. This represents a $1.44 annualized dividend and a yield of 1.36%. Graco’s payout ratio is 135.85%.
A number of brokerages recently weighed in on GGG. Deutsche Bank AG reissued a “hold” rating and set a $110.00 price objective (up from $105.00) on shares of Graco in a report on Monday, June 5th. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Royal Bank Of Canada reissued a “hold” rating and set a $104.00 price objective on shares of Graco in a report on Monday, June 5th. BidaskClub cut Graco from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Finally, FBR & Co reissued a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $101.80.
In other Graco news, VP Jeffrey P. Johnson sold 28,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $113.00, for a total transaction of $3,164,000.00. Following the sale, the vice president now directly owns 42,213 shares in the company, valued at $4,770,069. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Peter J. O’shea sold 15,986 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $113.50, for a total value of $1,814,411.00. Following the sale, the vice president now owns 20,638 shares in the company, valued at $2,342,413. The disclosure for this sale can be found here. Insiders sold 235,294 shares of company stock worth $15,930,767 over the last quarter. 5.70% of the stock is owned by company insiders.
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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