Graco Inc. (GGG) VP Sells $800,000.00 in Stock
Graco Inc. (NYSE:GGG) VP Karen Park Gallivan sold 10,000 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. Following the sale, the vice president now owns 19,868 shares in the company, valued at approximately $1,589,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Graco Inc. (NYSE:GGG) opened at 81.39 on Thursday. Graco Inc. has a 52-week low of $63.05 and a 52-week high of $86.62. The firm has a 50-day moving average of $74.96 and a 200 day moving average of $76.46. The company has a market cap of $4.53 billion, a PE ratio of 23.32 and a beta of 1.29.
Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 19th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. The company had revenue of $327.20 million for the quarter, compared to analyst estimates of $331.66 million. Graco had a net margin of 15.20% and a return on equity of 29.75%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. Equities research analysts expect that Graco Inc. will post $3.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $1.32 annualized dividend and a yield of 1.62%. Graco’s dividend payout ratio is 37.93%.
Several equities research analysts recently weighed in on the stock. William Blair lowered shares of Graco from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $89.00 to $78.00 in a research note on Thursday, July 21st. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. Finally, Deutsche Bank AG assumed coverage on shares of Graco in a research note on Tuesday, September 6th. They set a “hold” rating and a $83.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating, Graco has an average rating of “Hold” and an average target price of $83.75.
A number of hedge funds have recently bought and sold shares of the company. Leavell Investment Management Inc. raised its stake in Graco by 10.0% in the second quarter. Leavell Investment Management Inc. now owns 7,700 shares of the company’s stock valued at $608,000 after buying an additional 700 shares in the last quarter. Capstone Asset Management Co. raised its stake in Graco by 2.0% in the second quarter. Capstone Asset Management Co. now owns 5,686 shares of the company’s stock valued at $449,000 after buying an additional 110 shares in the last quarter. Creative Planning raised its stake in Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock valued at $107,000 after buying an additional 165 shares in the last quarter. GW&K Investment Management LLC raised its stake in Graco by 12.5% in the second quarter. GW&K Investment Management LLC now owns 52,832 shares of the company’s stock valued at $4,173,000 after buying an additional 5,880 shares in the last quarter. Finally, Park National Corp OH raised its stake in Graco by 0.4% in the second quarter. Park National Corp OH now owns 2,733 shares of the company’s stock valued at $216,000 after buying an additional 11 shares in the last quarter. Institutional investors own 91.78% of the company’s stock.
Graco Company Profile
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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