Graco Inc. (NYSE:GGG) – Analysts at KeyCorp raised their Q3 2017 earnings estimates for shares of Graco in a report issued on Wednesday. KeyCorp analyst J. Hammond now expects that the industrial products company will post earnings per share of $1.03 for the quarter, up from their previous estimate of $1.00.
Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The company had revenue of $379.50 million for the quarter, compared to the consensus estimate of $369.36 million. During the same quarter in the previous year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. WARNING: This report was first published by BNB Daily and is the sole property of of BNB Daily. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://www.baseball-news-blog.com/2017/08/19/q3-2017-eps-estimates-for-graco-inc-raised-by-keycorp-ggg-updated-updated.html.
Several other analysts have also weighed in on GGG. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research note on Wednesday, April 5th. Royal Bank Of Canada restated a “hold” rating and set a $89.00 price objective on shares of Graco in a research report on Tuesday, April 11th. TheStreet upgraded Graco from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. Deutsche Bank AG restated a “hold” rating and set a $110.00 price objective (up from $105.00) on shares of Graco in a research report on Monday, June 5th. Finally, BidaskClub downgraded Graco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $106.20.
Graco (NYSE GGG) opened at 116.04 on Monday. The company has a market capitalization of $6.50 billion, a PE ratio of 73.63 and a beta of 1.24. The company has a 50 day moving average price of $110.20 and a 200-day moving average price of $100.88. Graco has a 12-month low of $69.33 and a 12-month high of $116.20.
A number of institutional investors have recently made changes to their positions in GGG. Creative Planning boosted its position in Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock worth $141,000 after buying an additional 76 shares during the last quarter. Mosaic Family Wealth LLC boosted its stake in shares of Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock valued at $168,000 after buying an additional 62 shares in the last quarter. TLP Group LLC bought a new stake in shares of Graco during the first quarter valued at $193,000. Canada Pension Plan Investment Board boosted its stake in shares of Graco by 425.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock valued at $198,000 after buying an additional 1,700 shares in the last quarter. Finally, Park National Corp OH bought a new stake in shares of Graco during the first quarter valued at $203,000. Institutional investors and hedge funds own 90.97% of the company’s stock.
In other Graco news, VP Caroline M. Chambers sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $109.45, for a total value of $547,250.00. Following the transaction, the vice president now directly owns 10,159 shares in the company, valued at approximately $1,111,902.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dale D. Johnson sold 30,000 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $109.03, for a total value of $3,270,900.00. Following the completion of the transaction, the insider now owns 82,198 shares in the company, valued at $8,962,047.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,021 shares of company stock worth $13,602,334. Corporate insiders own 5.70% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th will be paid a $0.36 dividend. The ex-dividend date is Thursday, July 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.24%. Graco’s payout ratio is presently 92.90%.
Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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