Graco (NYSE:GGG) Releases Earnings Results, Beats Expectations By $0.01 EPS

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

GGG stock traded down $2.06 during mid-day trading on Thursday, hitting $76.26. 18,045 shares of the company were exchanged, compared to its average volume of 641,551. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 36.33, a P/E/G ratio of 3.89 and a beta of 0.59. Graco has a 12-month low of $52.10 and a 12-month high of $79.37. The company has a quick ratio of 2.52, a current ratio of 3.48 and a debt-to-equity ratio of 0.11. The firm’s fifty day simple moving average is $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 paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, July 16th. Graco’s dividend payout ratio (DPR) is presently 38.46%.

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Graco from $81.00 to $89.00 and gave the company an “outperform” rating in a report on Friday, April 23rd. Morgan Stanley upped their price objective on shares of Graco from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, April 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $76.00.

In other news, Director Lee R. Mitau sold 18,000 shares of the stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $77.02, for a total transaction of $1,386,360.00. Following the sale, the director now owns 184,262 shares of the company’s stock, valued at $14,191,859.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dale D. Johnson sold 19,297 shares of the stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $77.05, for a total transaction of $1,486,833.85. Following the sale, the insider now directly owns 194,105 shares in the company, valued at approximately $14,955,790.25. The disclosure for this sale can be found here. 3.63% of the stock is currently owned by corporate insiders.

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. 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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