Mark W. Sheahan Sells 47,000 Shares of Graco Inc. (GGG) Stock
Graco Inc. (NYSE:GGG) VP Mark W. Sheahan sold 47,000 shares of Graco stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $79.13, for a total transaction of $3,719,110.00. Following the sale, the vice president now directly owns 66,223 shares in the company, valued at $5,240,225.99. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Graco Inc. (NYSE:GGG) opened at 79.58 on Monday. The firm has a market cap of $4.43 billion, a P/E ratio of 22.80 and a beta of 1.29. Graco Inc. has a 12 month low of $63.05 and a 12 month high of $86.62. The stock has a 50 day moving average of $74.26 and a 200-day moving average of $76.44.
Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. Graco had a net margin of 15.20% and a return on equity of 29.75%. The firm had revenue of $327.20 million for the quarter, compared to the consensus estimate of $331.66 million. During the same period in the prior year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts predict that Graco Inc. will post $3.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 2nd. Stockholders of record on Monday, October 17th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date was Thursday, October 13th. Graco’s payout ratio is 37.93%.
GGG has been the topic of several research reports. Zacks Investment Research raised shares of Graco from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Deutsche Bank AG began coverage on shares of Graco in a research report on Tuesday, September 6th. They set a “hold” rating and a $83.00 target price on the stock. Finally, William Blair downgraded shares of 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 report on Thursday, July 21st. Nine investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $83.75.
Several large investors have recently made changes to their positions in GGG. Creative Planning boosted its position in Graco by 4.4% in the third quarter. Creative Planning now owns 1,413 shares of the company’s stock valued at $105,000 after buying an additional 59 shares during the period. Quantbot Technologies LP bought a new position in Graco during the third quarter valued at $126,000. Tower Research Capital LLC TRC boosted its position in Graco by 292.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,336 shares of the company’s stock valued at $185,000 after buying an additional 1,741 shares during the period. Fifth Third Bancorp boosted its position in Graco by 4.6% in the second quarter. Fifth Third Bancorp now owns 2,476 shares of the company’s stock valued at $196,000 after buying an additional 110 shares during the period. Finally, Princeton Alpha Management LP bought a new position in Graco during the second quarter valued at $204,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Graco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco Inc. and related stocks with our FREE daily email newsletter.