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

Graco (NYSE:GGG) posted its earnings results on Tuesday. The industrial products company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.01, MarketWatch Earnings reports. The business had revenue of $507.16 million for the quarter, compared to analyst estimates of $478.01 million. Graco had a net margin of 20.99% and a return on equity of 30.60%. Graco’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 EPS.

GGG stock traded down $1.38 during midday trading on Thursday, reaching $76.94. The company had a trading volume of 10,791 shares, compared to its average volume of 641,551. The company has a quick ratio of 2.52, a current ratio of 3.48 and a debt-to-equity ratio of 0.11. Graco has a 1 year low of $52.10 and a 1 year high of $79.37. The company has a market cap of $13.04 billion, a P/E ratio of 37.30, a P/E/G ratio of 3.89 and a beta of 0.59. The company’s 50-day moving average is $75.29.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 4th. Shareholders of record on Monday, July 19th will be paid a $0.1875 dividend. The ex-dividend date is Friday, July 16th. This represents a $0.75 dividend on an annualized basis and a yield of 0.97%. Graco’s dividend payout ratio is presently 38.46%.

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

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

About Graco

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.

Further Reading: Return on Investment (ROI) Defined, Explained

Earnings History for Graco (NYSE:GGG)

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