Graco Inc. (NYSE:GGG) – Stock analysts at SunTrust Banks increased their FY2018 earnings per share estimates for Graco in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst C. Brady now expects that the industrial products company will post earnings per share of $1.70 for the year, up from their prior forecast of $1.54. SunTrust Banks has a “Hold” rating and a $42.67 price target on the stock. SunTrust Banks also issued estimates for Graco’s FY2019 earnings at $1.83 EPS.
A number of other research analysts have also weighed in on GGG. Robert W. Baird reissued a “hold” rating and set a $43.00 target price on shares of Graco in a report on Wednesday, October 4th. KeyCorp reissued a “hold” rating on shares of Graco in a report on Friday, October 20th. FBR & Co set a $46.67 target price on Graco and gave the stock a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Finally, B. Riley reissued a “neutral” rating on shares of Graco in a report on Wednesday, November 1st. Thirteen research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $41.67.
Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The firm had revenue of $379.81 million for the quarter, compared to analyst estimates of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Monday, January 22nd will be issued a $0.3975 dividend. This represents a $1.59 dividend on an annualized basis and a yield of 3.38%. This is a positive change from Graco’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, January 19th. Graco’s dividend payout ratio is currently 77.42%.
In other Graco news, CFO Christian E. Rothe sold 12,750 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $132.01, for a total value of $1,683,127.50. Following the transaction, the chief financial officer now directly owns 16,905 shares of the company’s stock, valued at approximately $2,231,629.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Karen Park Gallivan sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $132.00, for a total value of $1,980,000.00. Following the completion of the transaction, the vice president now directly owns 30,060 shares in the company, valued at $3,967,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 734,752 shares of company stock worth $18,245,690. Insiders own 5.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GGG. Confluence Investment Management LLC lifted its position in shares of Graco by 195.2% during the 4th quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock valued at $106,147,000 after acquiring an additional 1,552,175 shares during the period. Koch Industries Inc. bought a new stake in shares of Graco during the 2nd quarter valued at $582,000. Janus Henderson Group PLC bought a new stake in shares of Graco during the 2nd quarter valued at $33,167,000. FMR LLC bought a new stake in shares of Graco during the 2nd quarter valued at $16,392,000. Finally, Old Mutual Global Investors UK Ltd. lifted its position in shares of Graco by 244.2% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 183,685 shares of the industrial products company’s stock valued at $22,719,000 after acquiring an additional 130,312 shares during the period. Hedge funds and other institutional investors own 28.75% of the company’s stock.
Graco Company Profile
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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