Graco Stock to Split on Thursday, December 28th (GGG)
Graco Inc. (NYSE:GGG)’s stock is set to split on the morning of Thursday, December 28th. The 3-1 split was announced on Friday, December 8th. The newly minted shares will be issued to shareholders after the closing bell on Wednesday, December 27th.
Shares of Graco (NYSE:GGG) opened at $130.87 on Tuesday. Graco has a 52-week low of $82.39 and a 52-week high of $134.11. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.23 and a quick ratio of 1.46. The stock has a market cap of $7,301.39, a PE ratio of 28.40, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.09. Graco had a net margin of 7.72% and a return on equity of 42.05%. The business had revenue of $379.81 million during the quarter, compared to the consensus estimate of $356.30 million. During the same period in the prior year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. equities analysts predict that Graco will post 4.36 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the stock. B. Riley reaffirmed a “neutral” rating on shares of Graco in a research report on Wednesday, November 1st. BidaskClub raised shares of Graco from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Robert W. Baird reaffirmed a “hold” rating and issued a $135.00 price objective on shares of Graco in a research report on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of Graco in a research report on Friday, October 20th. Finally, FBR & Co set a $140.00 price objective on shares of Graco and gave the stock a “hold” rating in a research report on Thursday, October 26th. Twelve research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $116.75.
In other news, insider Daniel Stolyarov sold 500,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $0.11, for a total transaction of $55,000.00. Also, VP Caroline M. Chambers sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $131.56, for a total transaction of $1,315,600.00. Following the transaction, the vice president now directly owns 15,191 shares of the company’s stock, valued at $1,998,527.96. The disclosure for this sale can be found here. Insiders have sold a total of 704,018 shares of company stock valued at $16,207,731 over the last three months. Insiders own 5.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in GGG. Prudential Financial Inc. boosted its holdings in Graco by 19.0% in the 2nd quarter. Prudential Financial Inc. now owns 327,738 shares of the industrial products company’s stock worth $35,816,000 after buying an additional 52,346 shares during the period. BB&T Securities LLC boosted its holdings in Graco by 0.5% in the 2nd quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock worth $757,000 after buying an additional 36 shares during the period. Cardinal Capital Management boosted its holdings in Graco by 6.8% in the 3rd quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock worth $942,000 after buying an additional 488 shares during the period. JPMorgan Chase & Co. boosted its holdings in Graco by 8.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 305,782 shares of the industrial products company’s stock worth $33,416,000 after buying an additional 23,718 shares during the period. Finally, Chicago Equity Partners LLC bought a new position in Graco in the 2nd quarter worth approximately $1,093,000. 86.27% of the stock is owned by hedge funds and other institutional investors.
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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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