Graco (GGG) to Release Quarterly Earnings on Wednesday

Graco (NYSE:GGG) is scheduled to be releasing its earnings data after the market closes on Wednesday, April 24th. Analysts expect Graco to post earnings of $0.74 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Graco (NYSE:GGG) last released its earnings results on Monday, January 29th. The industrial products company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $566.64 million for the quarter, compared to the consensus estimate of $565.86 million. Graco had a net margin of 23.07% and a return on equity of 24.61%. On average, analysts expect Graco to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Graco Price Performance

NYSE:GGG opened at $88.38 on Monday. The firm’s 50-day moving average price is $91.19 and its 200-day moving average price is $84.61. The company has a market capitalization of $14.89 billion, a PE ratio of 30.06, a P/E/G ratio of 2.81 and a beta of 0.81. Graco has a 1-year low of $68.78 and a 1-year high of $94.77.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, April 12th. Graco’s dividend payout ratio is presently 34.69%.

Insider Activity at Graco

In other Graco news, insider Anthony J. Gargano sold 1,395 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.00, for a total transaction of $122,760.00. Following the transaction, the insider now owns 5,697 shares in the company, valued at approximately $501,336. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Graco news, insider Anthony J. Gargano sold 1,395 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.00, for a total transaction of $122,760.00. Following the transaction, the insider now owns 5,697 shares in the company, valued at approximately $501,336. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy R. White sold 2,895 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $87.49, for a total transaction of $253,283.55. Following the transaction, the insider now owns 50,782 shares in the company, valued at approximately $4,442,917.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,378 shares of company stock valued at $4,376,528. 2.63% of the stock is owned by insiders.

Hedge Funds Weigh In On Graco

Several institutional investors have recently made changes to their positions in GGG. Cetera Advisor Networks LLC lifted its stake in shares of Graco by 3.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 6,270 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 184 shares during the period. Bank of Montreal Can raised its stake in Graco by 18.1% during the 1st quarter. Bank of Montreal Can now owns 86,910 shares of the industrial products company’s stock worth $6,176,000 after acquiring an additional 13,302 shares during the period. Great West Life Assurance Co. Can raised its stake in Graco by 8.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 96,025 shares of the industrial products company’s stock worth $6,879,000 after acquiring an additional 7,396 shares during the period. Raymond James Trust N.A. raised its stake in Graco by 8.2% during the 1st quarter. Raymond James Trust N.A. now owns 5,834 shares of the industrial products company’s stock worth $407,000 after acquiring an additional 440 shares during the period. Finally, Vontobel Holding Ltd. raised its stake in Graco by 74.3% during the 1st quarter. Vontobel Holding Ltd. now owns 9,636 shares of the industrial products company’s stock worth $684,000 after acquiring an additional 4,108 shares during the period. Institutional investors own 93.88% of the company’s stock.

Analyst Ratings Changes

GGG has been the topic of a number of recent research reports. StockNews.com raised shares of Graco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Jefferies Financial Group upped their target price on shares of Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, Royal Bank of Canada upped their target price on shares of Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Graco presently has a consensus rating of “Moderate Buy” and an average price target of $84.80.

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 Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.