Graco Inc. (GGG) VP Sells $3,939,300.00 in Stock
Graco Inc. (NYSE:GGG) VP Mark W. Sheahan sold 30,000 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $131.31, for a total value of $3,939,300.00. Following the sale, the vice president now directly owns 49,538 shares of the company’s stock, valued at approximately $6,504,834.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Graco Inc. (GGG) traded up 0.70% on Tuesday, hitting $131.66. The stock had a trading volume of 27,146 shares. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 83.54 and a beta of 1.25. The company’s 50-day moving average price is $124.28 and its 200 day moving average price is $113.88. Graco Inc. has a one year low of $73.40 and a one year high of $134.11.
Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.09. Graco had a net margin of 7.72% and a return on equity of 42.05%. The firm had revenue of $379.81 million during the quarter, compared to analysts’ expectations of $356.30 million. During the same period in the prior year, the company earned $0.95 EPS. The firm’s revenue was up 16.1% on a year-over-year basis. Analysts expect that Graco Inc. will post $4.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 16th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.10%. Graco’s dividend payout ratio (DPR) is 75.79%.
Several research firms have issued reports on GGG. FBR & Co set a $140.00 target price on Graco and gave the stock a “hold” rating in a research note on Thursday, October 26th. Robert W. Baird reissued a “hold” rating and set a $135.00 target price on shares of Graco in a research note on Friday. Royal Bank Of Canada reissued a “hold” rating on shares of Graco in a research note on Friday, July 28th. Wolfe Research reissued a “market perform” rating on shares of Graco in a research note on Tuesday, August 1st. Finally, Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research note on Monday, July 31st. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. Graco presently has an average rating of “Hold” and a consensus target price of $116.75.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Graco by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock valued at $545,481,000 after buying an additional 104,725 shares during the last quarter. BlackRock Inc. boosted its position in Graco by 1.0% in the 2nd quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock valued at $482,397,000 after buying an additional 43,669 shares during the last quarter. Fiera Capital Corp boosted its position in Graco by 7.3% in the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after buying an additional 206,130 shares during the last quarter. State Street Corp boosted its position in Graco by 3.2% in the 1st quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock valued at $137,974,000 after buying an additional 45,636 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Graco by 59.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock valued at $61,463,000 after buying an additional 244,321 shares during the last quarter. 87.18% of the stock is owned by institutional investors.
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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