Graco (NYSE:GGG) EVP Sells $263,999.04 in Stock

Graco Inc. (NYSE:GGG) EVP Angela Wordell sold 2,832 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $93.22, for a total transaction of $263,999.04. Following the transaction, the executive vice president owned 13,360 shares in the company, valued at $1,245,419.20. The trade was a 17.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Graco Stock Performance

NYSE GGG traded up $0.44 during trading hours on Monday, reaching $93.20. The company’s stock had a trading volume of 377,586 shares, compared to its average volume of 1,031,691. The stock has a market cap of $15.45 billion, a PE ratio of 30.16, a PEG ratio of 2.91 and a beta of 1.08. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $93.77. The company’s 50-day moving average is $85.10 and its two-hundred day moving average is $84.07.

Graco (NYSE:GGG) last issued its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The firm had revenue of $593.16 million for the quarter, compared to analyst estimates of $591.99 million. During the same period last year, the company earned $0.64 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts expect that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, January 19th were given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.3%. This is a boost from Graco’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, January 16th. Graco’s dividend payout ratio (DPR) is presently 38.19%.

Graco announced that its Board of Directors has approved a stock buyback program on Friday, December 5th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

GGG has been the subject of a number of analyst reports. Weiss Ratings raised shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Robert W. Baird set a $96.00 price objective on shares of Graco in a research report on Wednesday, January 28th. Royal Bank Of Canada raised their target price on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Jefferies Financial Group boosted their price target on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, DA Davidson reiterated a “neutral” rating and issued a $85.00 price target on shares of Graco in a report on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.50.

Institutional Investors Weigh In On Graco

Several hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in shares of Graco in the third quarter worth approximately $29,000. NewSquare Capital LLC raised its position in shares of Graco by 320.7% in the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 263 shares during the period. Assetmark Inc. lifted its position in Graco by 42.6% during the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 139 shares during the last quarter. CX Institutional lifted its position in shares of Graco by 316.7% during the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 361 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after buying an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

About Graco

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.