Graco (NYSE:GGG – Get Free Report) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10, FiscalAI reports. Graco had a return on equity of 19.27% and a net margin of 23.53%.The firm had revenue of $590.55 million during the quarter, compared to the consensus estimate of $608.06 million. During the same quarter in the prior year, the company earned $0.75 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis.
Graco Stock Up 5.3%
NYSE GGG opened at $77.78 on Friday. The firm has a market cap of $12.91 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 2.38 and a beta of 0.93. The company’s 50 day moving average is $75.00 and its 200-day moving average is $82.68. Graco has a 12-month low of $72.51 and a 12-month high of $95.69.
Graco Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be given a $0.295 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. Graco’s payout ratio is 38.44%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Report on Graco
Insider Buying and Selling
In other Graco news, Director Andrea Helen Simon acquired 1,240 shares of Graco stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.18% of the company’s stock.
Hedge Funds Weigh In On Graco
A number of large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its stake in shares of Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 452 shares during the period. Smartleaf Asset Management LLC boosted its stake in Graco by 41.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 746 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 219 shares during the period. Los Angeles Capital Management LLC purchased a new position in Graco during the 4th quarter valued at about $63,000. EverSource Wealth Advisors LLC grew its holdings in Graco by 97.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock valued at $152,000 after buying an additional 870 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Graco by 5.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company’s stock valued at $231,000 after buying an additional 139 shares during the period. 93.88% of the stock is owned by institutional investors.
About Graco
Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.
The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.
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