Graco (NYSE:GGG) Posts Quarterly Earnings Results

Graco (NYSE:GGG) posted its earnings results on Wednesday. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.06), reports. The company had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $418.93 million. Graco had a return on equity of 39.22% and a net margin of 20.61%. The company’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS.

Shares of GGG stock traded down $0.67 on Thursday, reaching $46.08. The company’s stock had a trading volume of 1,289,822 shares, compared to its average volume of 527,415. The company has a quick ratio of 1.39, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. Graco has a 12-month low of $38.59 and a 12-month high of $53.91. The company has a market capitalization of $7.79 billion, a P/E ratio of 24.51, a PEG ratio of 2.15 and a beta of 0.97. The stock’s 50 day simple moving average is $45.68 and its 200-day simple moving average is $48.40.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.39%. Graco’s dividend payout ratio (DPR) is presently 34.04%.

In related news, Director William J. Carroll sold 6,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $46.53, for a total value of $279,180.00. Following the sale, the director now owns 49,984 shares in the company, valued at $2,325,755.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.23% of the company’s stock.

Several equities research analysts have issued reports on GGG shares. Robert W. Baird set a $50.00 target price on Graco and gave the stock a “hold” rating in a research report on Friday, July 26th. ValuEngine downgraded Graco from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $47.20.

Graco Company Profile

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

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Earnings History for Graco (NYSE:GGG)

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