Graco (NYSE:GGG) Sets New 12-Month Low – Should You Sell?

Graco Inc. (NYSE:GGG) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $73.15 and last traded at $74.9310, with a volume of 34688 shares traded. The stock had previously closed at $74.16.

Wall Street Analyst Weigh In

GGG has been the subject of several recent research reports. Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. DA Davidson restated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research report on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Graco in a report on Friday, April 24th. Finally, Robert W. Baird cut their price objective on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Graco has an average rating of “Hold” and a consensus target price of $94.25.

Graco Stock Up 1.2%

The business’s 50 day simple moving average is $77.59 and its 200 day simple moving average is $83.84. The company has a market capitalization of $12.59 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 2.42 and a beta of 0.93.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm had revenue of $540.14 million during the quarter, compared to analysts’ expectations of $561.35 million. During the same period last year, the business earned $0.70 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. On average, analysts anticipate that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be issued a $0.295 dividend. The ex-dividend date is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.6%. Graco’s dividend payout ratio is presently 38.44%.

Insider Activity at Graco

In other Graco news, Director Andrea Helen Simon bought 1,240 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was acquired at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the transaction, the director directly owned 1,240 shares in the company, valued at approximately $99,857.20. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Graco

A number of institutional investors have recently bought and sold shares of GGG. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Graco by 0.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock worth $1,745,000 after purchasing an additional 109 shares during the period. Stonebridge Capital Advisors LLC lifted its position in Graco by 0.3% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after buying an additional 119 shares in the last quarter. ICW Investment Advisors LLC lifted its position in Graco by 5.2% in the 2nd quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company’s stock worth $234,000 after buying an additional 135 shares in the last quarter. Viawealth LLC boosted its stake in shares of Graco by 0.3% during the 3rd quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock valued at $4,519,000 after buying an additional 137 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Graco by 5.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company’s stock valued at $231,000 after buying an additional 139 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Company Profile

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.