Graco Inc. (GGG) Scheduled to Post Quarterly Earnings on Wednesday
Graco Inc. (NYSE:GGG) is set to announce its Q316 earnings results on Wednesday, October 19th. Analysts expect the company to announce earnings of $0.89 per share and revenue of $331.66 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.11. The company earned $348.10 million during the quarter, compared to the consensus estimate of $352.49 million. Graco had a return on equity of 30.04% and a net margin of 15.01%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share. On average, analysts expect Graco to post $3.37 EPS for the current fiscal year and $3.70 EPS for the next fiscal year.
Graco Inc. (NYSE:GGG) opened at 71.42 on Monday. Graco Inc. has a 52-week low of $63.05 and a 52-week high of $86.62. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 21.05 and a beta of 1.51. The stock has a 50 day moving average price of $73.48 and a 200 day moving average price of $77.58.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.32 annualized dividend and a yield of 1.85%. Graco’s dividend payout ratio (DPR) is 38.94%.
Several research firms have issued reports on GGG. Zacks Investment Research cut Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th. Deutsche Bank AG began coverage on Graco in a research note on Tuesday, September 6th. They set a “hold” rating and a $83.00 target price for the company. Finally, William Blair cut Graco from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $89.00 to $78.00 in a research note on Thursday, July 21st. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Graco currently has an average rating of “Hold” and an average target price of $83.75.
In related news, insider Patrick J. Mchale sold 11,500 shares of Graco stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $74.19, for a total value of $853,185.00. Following the completion of the transaction, the insider now directly owns 142,230 shares in the company, valued at $10,552,043.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GGG. Raymond James & Associates raised its position in Graco by 9.5% in the second quarter. Raymond James & Associates now owns 104,016 shares of the company’s stock worth $8,216,000 after buying an additional 9,035 shares during the period. Teachers Advisors Inc. raised its position in Graco by 4.0% in the second quarter. Teachers Advisors Inc. now owns 53,199 shares of the company’s stock worth $4,202,000 after buying an additional 2,025 shares during the period. Baird Financial Group Inc. raised its position in Graco by 71.3% in the second quarter. Baird Financial Group Inc. now owns 400,404 shares of the company’s stock worth $31,628,000 after buying an additional 166,689 shares during the period. United Services Automobile Association raised its position in Graco by 4.1% in the second quarter. United Services Automobile Association now owns 5,060 shares of the company’s stock worth $400,000 after buying an additional 200 shares during the period. Finally, BlueMountain Capital Management LLC raised its position in Graco by 337.8% in the second quarter. BlueMountain Capital Management LLC now owns 9,425 shares of the company’s stock worth $744,000 after buying an additional 7,272 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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