Graco (NYSE:GGG) Hits New 1-Year Low – Should You Sell?

Graco Inc. (NYSE:GGG)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $73.15 and last traded at $74.9310, with a volume of 34688 shares changing hands. The stock had previously closed at $74.16.

Wall Street Analyst Weigh In

GGG has been the topic of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Graco in a report on Friday, April 24th. DA Davidson reissued a “neutral” rating and set a $85.00 price objective on shares of Graco in a research note on Monday, April 27th. Weiss Ratings cut shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Finally, Robert W. Baird reduced their price target on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Graco currently has a consensus rating of “Hold” and an average target price of $94.25.

Graco Price Performance

The stock has a market cap of $12.51 billion, a PE ratio of 24.51, a P/E/G ratio of 2.43 and a beta of 0.93. The stock has a 50-day simple moving average of $78.09 and a 200-day simple moving average of $83.95.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). The firm had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, equities research analysts anticipate that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, July 20th. Graco’s dividend payout ratio (DPR) is currently 38.44%.

Insider Buying and Selling at Graco

In related news, Director Andrea Helen Simon purchased 1,240 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the acquisition, the director owned 1,240 shares in the company, valued at approximately $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.18% of the company’s stock.

Institutional Investors Weigh In On Graco

Several institutional investors and hedge funds have recently modified their holdings of GGG. Cassaday & Co Wealth Management LLC acquired a new position in Graco during the 1st quarter worth approximately $26,000. Whipplewood Advisors LLC grew its position in Graco by 2,650.0% in the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 318 shares in the last quarter. Essential Partners LLC raised its stake in shares of Graco by 78.6% during the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 158 shares during the period. Assetmark Inc. raised its stake in shares of Graco by 42.6% during the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 139 shares during the period. Finally, Field & Main Bank acquired a new position in shares of Graco during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

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.