Graco Inc. (GGG) Insider Sells $3,465,000.00 in Stock
Graco Inc. (NYSE:GGG) insider David M. Lowe sold 30,000 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $115.50, for a total value of $3,465,000.00. Following the completion of the sale, the insider now directly owns 164,809 shares of the company’s stock, valued at $19,035,439.50. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Graco Inc. (NYSE GGG) opened at 117.24 on Thursday. The company has a market cap of $6.56 billion, a P/E ratio of 74.39 and a beta of 1.24. The company’s 50-day moving average price is $113.94 and its 200 day moving average price is $106.17. Graco Inc. has a 52 week low of $69.33 and a 52 week high of $118.04.
Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.06 by $0.32. The company had revenue of $379.50 million for the quarter, compared to the consensus estimate of $369.36 million. Graco had a return on equity of 40.21% and a net margin of 6.50%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, equities analysts forecast that Graco Inc. will post $4.53 EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its stake in Graco by 106.1% during the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 578 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in shares of Graco by 200.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $131,000 after acquiring an additional 800 shares during the last quarter. Fiduciary Trust Co. bought a new position in shares of Graco in the 2nd quarter valued at $180,000. TLP Group LLC bought a new position in shares of Graco in the 1st quarter valued at $193,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Graco by 425.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock valued at $198,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 86.85% of the company’s stock.
Several research analysts have weighed in on GGG shares. Wolfe Research started coverage on Graco in a research report on Tuesday, July 11th. They issued an “underperform” rating and a $100.00 target price on the stock. FBR & Co reaffirmed a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. BidaskClub lowered Graco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Deutsche Bank AG reissued a “hold” rating and set a $110.00 price objective (up previously from $105.00) on shares of Graco in a report on Monday, June 5th. Finally, Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $106.20.
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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