Graco (NYSE:GGG) Posts Quarterly Earnings Results

Graco (NYSE:GGG) issued its earnings results on Tuesday. The industrial products company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01, MarketWatch Earnings reports. The company had revenue of $507.16 million for the quarter, compared to analyst estimates of $478.01 million. Graco had a net margin of 20.99% and a return on equity of 30.60%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS.

Shares of NYSE:GGG traded down $2.06 during midday trading on Thursday, hitting $76.26. 18,045 shares of the stock were exchanged, compared to its average volume of 641,551. The company has a market capitalization of $12.92 billion, a PE ratio of 36.33, a P/E/G ratio of 3.89 and a beta of 0.59. The company has a current ratio of 3.48, a quick ratio of 2.52 and a debt-to-equity ratio of 0.11. Graco has a twelve month low of $52.10 and a twelve month high of $79.37. The firm has a 50 day simple moving average of $75.29.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 4th. Stockholders of record on Monday, July 19th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Friday, July 16th. Graco’s dividend payout ratio (DPR) is presently 38.46%.

In related news, Director Lee R. Mitau sold 18,000 shares of the business’s stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $77.02, for a total value of $1,386,360.00. Following the completion of the transaction, the director now owns 184,262 shares of the company’s stock, valued at approximately $14,191,859.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dale D. Johnson sold 19,297 shares of the business’s stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $77.05, for a total transaction of $1,486,833.85. Following the completion of the transaction, the insider now directly owns 194,105 shares of the company’s stock, valued at approximately $14,955,790.25. The disclosure for this sale can be found here. Insiders own 3.63% of the company’s stock.

GGG has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Graco from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, April 23rd. Royal Bank of Canada boosted their target price on shares of Graco from $81.00 to $89.00 and gave the stock an “outperform” rating in a research report on Friday, April 23rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Graco has a consensus rating of “Buy” and an average target price of $76.00.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; 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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Earnings History for Graco (NYSE:GGG)

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