Brokerages forecast that Graco Inc. (NYSE:GGG) will report $415.86 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Graco’s earnings. The lowest sales estimate is $406.00 million and the highest is $425.01 million. Graco posted sales of $406.35 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The business is expected to issue its next earnings results on Wednesday, April 24th.
According to Zacks, analysts expect that Graco will report full year sales of $1.72 billion for the current fiscal year, with estimates ranging from $1.70 billion to $1.76 billion. For the next financial year, analysts anticipate that the company will report sales of $1.80 billion, with estimates ranging from $1.78 billion to $1.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Graco.
Graco (NYSE:GGG) last announced its earnings results on Monday, January 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The company had revenue of $406.40 million for the quarter, compared to analysts’ expectations of $404.14 million. Graco had a return on equity of 43.67% and a net margin of 20.63%. Graco’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share.
Shares of NYSE:GGG opened at $47.94 on Tuesday. The company has a market cap of $7.96 billion, a P/E ratio of 25.50, a P/E/G ratio of 2.45 and a beta of 0.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 2.41. Graco has a 12-month low of $37.36 and a 12-month high of $48.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a $0.16 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.64 annualized dividend and a yield of 1.34%. Graco’s dividend payout ratio is currently 34.04%.
In other Graco news, VP Angela F. Wordell sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $43.63, for a total value of $109,075.00. Following the transaction, the vice president now owns 10,802 shares of the company’s stock, valued at $471,291.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Sheahan sold 54,000 shares of the business’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $47.17, for a total value of $2,547,180.00. Following the completion of the transaction, the chief financial officer now directly owns 113,410 shares in the company, valued at approximately $5,349,549.70. The disclosure for this sale can be found here. In the last three months, insiders sold 205,038 shares of company stock worth $9,646,069. Insiders own 5.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of GGG. JPMorgan Chase & Co. raised its stake in shares of Graco by 31.2% in the third quarter. JPMorgan Chase & Co. now owns 1,115,996 shares of the industrial products company’s stock valued at $51,715,000 after buying an additional 265,581 shares during the period. Rhumbline Advisers raised its stake in shares of Graco by 27.5% in the fourth quarter. Rhumbline Advisers now owns 480,016 shares of the industrial products company’s stock valued at $20,089,000 after buying an additional 103,523 shares during the period. Arizona State Retirement System raised its stake in shares of Graco by 0.7% in the fourth quarter. Arizona State Retirement System now owns 119,458 shares of the industrial products company’s stock valued at $4,999,000 after buying an additional 773 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Graco by 16.6% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,120,002 shares of the industrial products company’s stock valued at $297,973,000 after buying an additional 1,011,052 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Graco by 5.9% in the third quarter. Thrivent Financial for Lutherans now owns 40,448 shares of the industrial products company’s stock valued at $1,874,000 after buying an additional 2,260 shares during the period. 84.39% of the stock is currently owned by institutional investors and hedge funds.
Graco Company Profile
Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; 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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