Graco Inc. (NYSE:GGG) – Stock analysts at SunTrust Banks increased their FY2018 earnings per share estimates for Graco in a research report issued on Tuesday. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will post earnings per share of $1.70 for the year, up from their previous forecast of $1.54. SunTrust Banks has a “Hold” rating and a $42.67 price target on the stock. SunTrust Banks also issued estimates for Graco’s FY2019 earnings at $1.83 EPS.
Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.38 earnings per share for the quarter, beating the Zacks’ 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 company 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 company earned $0.32 EPS. Graco’s revenue was up 16.1% on a year-over-year basis.
A number of other analysts have also commented on the stock. Zacks Investment Research raised shares of Graco from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $49.00 price objective on shares of Graco in a research note on Thursday, January 4th. Oppenheimer reaffirmed a “hold” rating on shares of Graco in a research note on Thursday, December 28th. B. Riley reaffirmed a “hold” rating and set a $46.67 price objective on shares of Graco in a research note on Wednesday, December 20th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $47.67 target price on shares of Graco in a report on Friday, December 15th. Thirteen equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $41.67.
Graco (NYSE:GGG) traded up $0.55 during mid-day trading on Thursday, reaching $47.02. 506,000 shares of the company’s stock were exchanged, compared to its average volume of 753,925. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. Graco has a 52 week low of $28.06 and a 52 week high of $47.44. The stock has a market capitalization of $2,640.00, a price-to-earnings ratio of 75.84, a PEG ratio of 2.80 and a beta of 1.24.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Monday, January 22nd will be issued a $0.3975 dividend. The ex-dividend date of this dividend is Friday, January 19th. This represents a $1.59 dividend on an annualized basis and a yield of 3.38%. This is an increase from Graco’s previous quarterly dividend of $0.36. Graco’s dividend payout ratio is currently 77.42%.
In other Graco news, CFO Christian E. Rothe sold 12,750 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $132.01, for a total transaction of $1,683,127.50. Following the transaction, the chief financial officer now owns 16,905 shares in the company, valued at $2,231,629.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Mark W. Sheahan sold 30,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $131.31, for a total value of $3,939,300.00. Following the transaction, the vice president now owns 49,538 shares in the company, valued at approximately $6,504,834.78. The disclosure for this sale can be found here. Insiders sold 734,752 shares of company stock worth $18,245,690 in the last 90 days. 5.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of GGG. Confluence Investment Management LLC boosted its position in shares of Graco by 195.2% in the fourth quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock valued at $106,147,000 after acquiring an additional 1,552,175 shares during the period. Koch Industries Inc. bought a new position in Graco in the second quarter worth $582,000. Janus Henderson Group PLC bought a new position in Graco in the second quarter worth $33,167,000. FMR LLC bought a new position in Graco in the second quarter worth $16,392,000. Finally, Old Mutual Global Investors UK Ltd. lifted its position in Graco by 244.2% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 183,685 shares of the industrial products company’s stock worth $22,719,000 after purchasing an additional 130,312 shares during the period. 28.75% 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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