Insider Buying: Graco (NYSE:GGG) Director Purchases $99,857.20 in Stock

Graco Inc. (NYSE:GGG) Director Andrea Helen Simon acquired 1,240 shares of Graco stock in a transaction on Monday, April 27th. The stock was acquired at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Graco Stock Performance

Graco stock opened at $79.59 on Thursday. The firm has a market cap of $13.21 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.57 and a beta of 1.09. The business’s fifty day moving average is $87.08 and its two-hundred day moving average is $85.43. Graco Inc. has a 52 week low of $78.87 and a 52 week high of $95.69.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The business had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.Graco’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. On average, equities research analysts predict that Graco Inc. will post 3.13 earnings per share for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be given a dividend of $0.295 per share. The ex-dividend date is Monday, April 13th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. Graco’s payout ratio is presently 38.44%.

Analyst Ratings Changes

GGG has been the subject of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 target price on shares of Graco in a research report on Friday, April 24th. Weiss Ratings upgraded Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. KeyCorp restated a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. Jefferies Financial Group boosted their target price on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, DA Davidson restated a “neutral” rating and set a $85.00 target price on shares of Graco in a research report on Monday. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $94.25.

Institutional Investors Weigh In On Graco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV increased its holdings in Graco by 0.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock valued at $1,745,000 after purchasing an additional 109 shares during the last quarter. Stonebridge Capital Advisors LLC increased its holdings in Graco by 0.3% in the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after purchasing an additional 119 shares during the last quarter. Fifth Third Bancorp increased its holdings in Graco by 7.7% in the third quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 125 shares during the last quarter. ICW Investment Advisors LLC increased its holdings in Graco by 4.6% in the third quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 126 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in Graco by 7.8% in the third quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.