Graco Inc. (GGG) Director Sells $990,024.00 in Stock

Graco Inc. (NYSE:GGG) Director J Kevin Gilligan sold 21,300 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $46.48, for a total value of $990,024.00. Following the completion of the sale, the director now directly owns 67,401 shares of the company’s stock, valued at approximately $3,132,798.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NYSE GGG traded up $0.35 during trading hours on Wednesday, hitting $46.72. 85,834 shares of the company’s stock were exchanged, compared to its average volume of 641,837. Graco Inc. has a 1-year low of $37.36 and a 1-year high of $48.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 2.41. The stock has a market capitalization of $7.75 billion, a PE ratio of 24.85, a P/E/G ratio of 2.37 and a beta of 1.00.

Graco (NYSE:GGG) last posted its quarterly earnings data on Monday, January 28th. The industrial products company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Graco had a return on equity of 43.67% and a net margin of 20.63%. The business had revenue of $406.40 million during the quarter, compared to analysts’ expectations of $404.14 million. During the same quarter in the previous year, the firm earned $0.34 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Graco Inc. will post 2.01 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, April 12th. This represents a $0.64 annualized dividend and a dividend yield of 1.37%. Graco’s dividend payout ratio is presently 34.04%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB lifted its position in shares of Graco by 4.6% during the 4th quarter. Nordea Investment Management AB now owns 102,869 shares of the industrial products company’s stock worth $4,305,000 after purchasing an additional 4,478 shares during the last quarter. Advisory Services Network LLC increased its stake in Graco by 11.7% during the fourth quarter. Advisory Services Network LLC now owns 36,357 shares of the industrial products company’s stock valued at $1,521,000 after acquiring an additional 3,822 shares during the period. Amalgamated Bank increased its stake in Graco by 58.4% during the fourth quarter. Amalgamated Bank now owns 38,646 shares of the industrial products company’s stock valued at $1,617,000 after acquiring an additional 14,245 shares during the period. Millennium Management LLC increased its stake in Graco by 29.9% during the fourth quarter. Millennium Management LLC now owns 367,964 shares of the industrial products company’s stock valued at $15,399,000 after acquiring an additional 84,606 shares during the period. Finally, Legal & General Group Plc increased its stake in Graco by 2.7% during the fourth quarter. Legal & General Group Plc now owns 211,105 shares of the industrial products company’s stock valued at $8,835,000 after acquiring an additional 5,552 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have weighed in on GGG. ValuEngine raised Graco from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research cut Graco from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Seaport Global Securities reaffirmed a “hold” rating on shares of Graco in a research report on Wednesday, January 30th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $46.00 price target on shares of Graco in a research report on Wednesday, January 30th. Finally, Jefferies Financial Group began coverage on Graco in a research report on Friday, January 25th. They issued a “hold” rating and a $46.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $46.20.

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Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.

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