Graco Inc. (NYSE:GGG – Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $77.21 and last traded at $77.4390, with a volume of 22778 shares trading hands. The stock had previously closed at $77.59.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. Jefferies Financial Group upped their price target on Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Robert W. Baird dropped their price target on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. DA Davidson reaffirmed a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 price target on shares of Graco in a research report on Friday, April 24th. Finally, Weiss Ratings lowered Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Graco presently has a consensus rating of “Hold” and a consensus target price of $94.25.
Check Out Our Latest Stock Report on Graco
Graco Stock Performance
Graco (NYSE:GGG – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The business had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.Graco’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities analysts anticipate that Graco Inc. will post 3.13 earnings per share for the current fiscal year.
Graco Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, April 13th. Graco’s dividend payout ratio is currently 38.44%.
Insider Activity at Graco
In other news, Director Andrea Helen Simon acquired 1,240 shares of Graco stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the transaction, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.18% of the company’s stock.
Institutional Investors Weigh In On Graco
Several institutional investors have recently bought and sold shares of the stock. Cassaday & Co Wealth Management LLC purchased a new stake in Graco in the 1st quarter worth approximately $26,000. Whipplewood Advisors LLC lifted its holdings in Graco by 2,650.0% in the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock worth $28,000 after buying an additional 318 shares during the period. Root Financial Partners LLC purchased a new stake in Graco in the 3rd quarter worth approximately $29,000. Assetmark Inc. lifted its holdings in Graco by 42.6% in the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after buying an additional 139 shares during the period. Finally, CX Institutional lifted its holdings in Graco by 316.7% in the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after buying an additional 361 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.
Graco Company Profile
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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