Graco (NYSE:GGG) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

Graco stock traded down $1.38 during mid-day trading on Thursday, reaching $76.94. The company had a trading volume of 10,791 shares, compared to its average volume of 641,551. Graco has a fifty-two week low of $52.10 and a fifty-two week high of $79.37. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.52 and a current ratio of 3.48. The firm has a market cap of $13.04 billion, a P/E ratio of 37.30, a P/E/G ratio of 3.89 and a beta of 0.59. The company has a fifty day moving average of $75.29.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 4th. Shareholders of record on Monday, July 19th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Friday, July 16th. This represents a $0.75 dividend on an annualized basis and a yield of 0.97%. Graco’s dividend payout ratio is currently 38.46%.

GGG has been the topic of several analyst reports. Morgan Stanley increased their price target 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 increased their price target 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 given a buy rating to the stock. Graco presently has a consensus rating of “Buy” and an average price target of $76.00.

In other Graco news, Director Lee R. Mitau sold 18,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 184,262 shares in the company, valued at $14,191,859.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dale D. Johnson sold 19,297 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 194,105 shares in the company, valued at approximately $14,955,790.25. The disclosure for this sale can be found here. Company insiders own 3.63% of the company’s stock.

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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