$366.99 Million in Sales Expected for Graco Inc. (GGG) This Quarter
Brokerages expect Graco Inc. (NYSE:GGG) to report sales of $366.99 million for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Graco’s earnings. The highest sales estimate is $374.90 million and the lowest is $360.04 million. Graco posted sales of $349.06 million during the same quarter last year, which suggests a positive year over year growth rate of 5.1%. The company is scheduled to report its next quarterly earnings results after the market closes on Monday, January 29th.
On average, analysts expect that Graco will report full-year sales of $366.99 million for the current fiscal year, with estimates ranging from $1.46 billion to $1.48 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.55 billion per share, with estimates ranging from $1.53 billion to $1.57 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Graco.
Graco (NYSE:GGG) last released its earnings results on Wednesday, October 25th. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.35 by $0.03. Graco had a net margin of 7.72% and a return on equity of 42.05%. The firm had revenue of $379.81 million for the quarter, compared to the consensus estimate of $356.30 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company’s quarterly revenue was up 16.1% compared to the same quarter last year.
In other news, VP Mark D. Eberlein sold 5,902 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $130.26, for a total value of $768,794.52. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Mark W. Sheahan sold 30,000 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $131.31, for a total transaction of $3,939,300.00. Following the completion of the sale, the vice president now directly owns 49,538 shares in the company, valued at approximately $6,504,834.78. The disclosure for this sale can be found here. In the last three months, insiders sold 734,752 shares of company stock worth $18,245,690. Insiders own 5.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Graco by 2.1% in the second quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock valued at $545,481,000 after acquiring an additional 104,725 shares during the period. BlackRock Inc. raised its stake in shares of Graco by 1.0% in the second quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock valued at $482,397,000 after acquiring an additional 43,669 shares during the period. Fiera Capital Corp raised its stake in shares of Graco by 7.3% in the second quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after acquiring an additional 206,130 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Graco by 6.6% in the third quarter. Parametric Portfolio Associates LLC now owns 655,299 shares of the industrial products company’s stock valued at $81,054,000 after acquiring an additional 40,284 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Graco by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 626,628 shares of the industrial products company’s stock valued at $77,514,000 after acquiring an additional 30,413 shares during the period. 86.24% of the stock is currently owned by institutional investors and hedge funds.
Graco (NYSE:GGG) traded up $0.42 during trading on Friday, reaching $46.33. 1,001,300 shares of the company were exchanged, compared to its average volume of 861,633. The stock has a market capitalization of $2,600.00, a P/E ratio of 74.73, a price-to-earnings-growth ratio of 2.78 and a beta of 1.24. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31. Graco has a 52 week low of $27.49 and a 52 week high of $46.70.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Monday, January 22nd will be paid a $0.3975 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $1.59 annualized dividend and a dividend yield of 3.43%. This is an increase from Graco’s previous quarterly dividend of $0.36. Graco’s dividend payout ratio is currently 77.42%.
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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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