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Graco Inc. (NYSE:GGG - Get Rating) EVP David M. Ahlers sold 44,949 shares of the business's stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $70.77, for a total transaction of $3,181,040.73. Following the completion of the sale, the executive vice president now directly owns 65,135 shares in the company, valued at approximately $4,609,603.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Graco Price Performance
Shares of NYSE:GGG traded down $0.22 during midday trading on Friday, hitting $70.56. The stock had a trading volume of 814,712 shares, compared to its average volume of 648,889. The company has a quick ratio of 1.95, a current ratio of 3.01 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $11.93 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 3.43 and a beta of 0.78. The company's 50-day moving average price is $62.47 and its 200-day moving average price is $65.57. Graco Inc. has a fifty-two week low of $56.48 and a fifty-two week high of $81.09.
Graco (NYSE:GGG - Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. Graco had a net margin of 21.38% and a return on equity of 25.73%. The business had revenue of $548.55 million during the quarter, compared to the consensus estimate of $533.49 million. During the same period in the previous year, the business earned $0.62 earnings per share. The company's revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that Graco Inc. will post 2.59 EPS for the current fiscal year. Graco Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 3rd. Stockholders of record on Monday, July 18th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, July 15th. This represents a $0.84 annualized dividend and a dividend yield of 1.19%. Graco's dividend payout ratio (DPR) is presently 33.07%. Analyst Upgrades and Downgrades
GGG has been the topic of a number of research reports. StockNews.com lowered shares of Graco from a "buy" rating to a "hold" rating in a research report on Tuesday, May 3rd. Morgan Stanley dropped their price target on shares of Graco from $80.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 9th. Robert W. Baird lowered shares of Graco from an "outperform" rating to a "neutral" rating and set a $61.00 price target on the stock. in a research report on Thursday, July 14th. Finally, DA Davidson dropped their price objective on shares of Graco to $70.00 in a research report on Tuesday, August 9th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $71.00.Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of GGG. Champlain Investment Partners LLC increased its holdings in Graco by 33.8% in the second quarter. Champlain Investment Partners LLC now owns 2,718,470 shares of the industrial products company's stock valued at $161,504,000 after purchasing an additional 687,000 shares during the period. Sandhill Capital Partners LLC acquired a new stake in Graco in the fourth quarter valued at $40,289,000. Nuance Investments LLC increased its holdings in Graco by 213.4% in the second quarter. Nuance Investments LLC now owns 679,976 shares of the industrial products company's stock valued at $40,397,000 after purchasing an additional 463,015 shares during the period. State Street Corp increased its holdings in Graco by 6.7% in the second quarter. State Street Corp now owns 6,402,263 shares of the industrial products company's stock valued at $380,358,000 after purchasing an additional 399,541 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in Graco in the first quarter valued at $24,447,000. 84.53% of the stock is currently owned by institutional investors and hedge funds. About Graco (Get Rating)
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, and precision dispensing solutions.Read MoreGet a free copy of the StockNews.com research report on Graco (GGG)Apple’s Stock Could Be On The Verge Of Another 30% RallyNear-Term Headwinds Present An Opportunity In Ross StoresIf You Hate Speed Cameras, Then You’ll Like Verra Mobility Stock Institutional Support For TJX Companies May Cap GainsIs Sanofi A Buy, Despite Recent Stumbles?
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