Lee R. Mitau Sells 8,600 Shares of Graco Inc. (GGG) Stock
Graco Inc. (NYSE:GGG) Director Lee R. Mitau sold 8,600 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $131.18, for a total transaction of $1,128,148.00. Following the completion of the sale, the director now owns 67,404 shares in the company, valued at $8,842,056.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Graco Inc. (NYSE:GGG) opened at $132.11 on Friday. The firm has a market cap of $7,415.33, a PE ratio of 28.84, a PEG ratio of 2.89 and a beta of 1.25. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31.
Graco (NYSE:GGG) last released its earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.09. The company had revenue of $379.81 million for the quarter, compared to analyst estimates of $356.30 million. Graco had a net margin of 7.72% and a return on equity of 42.05%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. analysts forecast that Graco Inc. will post 4.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th were issued a $0.36 dividend. The ex-dividend date was Friday, October 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.09%. Graco’s dividend payout ratio (DPR) is 75.79%.
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Several equities research analysts recently commented on the stock. Wolfe Research reiterated a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. BidaskClub lowered shares of Graco from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered shares of Graco from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Robert W. Baird reiterated a “hold” rating and issued a $135.00 price objective on shares of Graco in a research report on Friday, October 27th. Finally, KeyCorp restated a “hold” rating on shares of Graco in a report on Friday, October 20th. Ten analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus target price of $116.75.
Hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of Graco by 106.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 578 shares during the period. Acrospire Investment Management LLC lifted its holdings in shares of Graco by 200.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 800 shares during the period. Fiduciary Trust Co. purchased a new position in shares of Graco during the 2nd quarter worth about $180,000. Mosaic Family Wealth LLC lifted its holdings in shares of Graco by 5.1% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,880 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 91 shares during the period. Finally, HM Payson & Co. purchased a new position in shares of Graco during the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 87.18% 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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