Graco Inc. (NYSE:GGG) – Stock analysts at SunTrust Banks increased their Q3 2017 earnings per share estimates for Graco in a research report issued on Thursday. SunTrust Banks analyst C. Brady now anticipates that the industrial products company will post earnings per share of $1.03 for the quarter, up from their previous forecast of $1.02. SunTrust Banks also issued estimates for Graco’s FY2017 earnings at $4.51 EPS, Q1 2018 earnings at $1.05 EPS, Q2 2018 earnings at $1.22 EPS and FY2018 earnings at $4.50 EPS.
Graco (NYSE:GGG) last released its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The company had revenue of $379.50 million during the quarter, compared to analyst estimates of $369.36 million. During the same quarter in the previous year, the company posted $0.89 EPS. Graco’s revenue for the quarter was up 9.0% on a year-over-year basis.
Shares of Graco (GGG) opened at 116.04 on Monday. Graco has a 1-year low of $69.33 and a 1-year high of $116.20. The stock has a 50 day moving average price of $110.20 and a 200-day moving average price of $100.88. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 73.63 and a beta of 1.24.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, July 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.24%. Graco’s dividend payout ratio (DPR) is presently 92.90%.
In other Graco news, insider Dale D. Johnson sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $109.03, for a total transaction of $3,270,900.00. Following the completion of the transaction, the insider now owns 82,198 shares in the company, valued at $8,962,047.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Caroline M. Chambers sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $109.45, for a total value of $547,250.00. Following the transaction, the vice president now owns 10,159 shares of the company’s stock, valued at approximately $1,111,902.55. The disclosure for this sale can be found here. Insiders have sold 194,021 shares of company stock valued at $13,602,334 in the last 90 days. Company insiders own 5.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in GGG. Conestoga Capital Advisors LLC raised its position in shares of Graco by 126.5% in the first quarter. Conestoga Capital Advisors LLC now owns 22,248 shares of the industrial products company’s stock valued at $2,094,000 after buying an additional 12,425 shares during the period. Creative Planning raised its position in shares of Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock valued at $141,000 after buying an additional 76 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Graco by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 346,915 shares of the industrial products company’s stock valued at $28,826,000 after buying an additional 18,120 shares during the period. Hosking Partners LLP raised its position in shares of Graco by 10.0% in the first quarter. Hosking Partners LLP now owns 126,586 shares of the industrial products company’s stock valued at $11,917,000 after buying an additional 11,506 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Graco by 6.8% in the first quarter. Vanguard Group Inc. now owns 4,886,860 shares of the industrial products company’s stock valued at $460,049,000 after buying an additional 309,685 shares during the period. Institutional investors and hedge funds own 90.97% of the company’s stock.
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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