Graco (NYSE:GGG) Sets New 1-Year Low at $64.25

Graco Inc. (NYSE:GGGGet Rating)’s stock price hit a new 52-week low on Monday . The stock traded as low as $64.25 and last traded at $64.62, with a volume of 5413 shares changing hands. The stock had previously closed at $65.96.

GGG has been the topic of several analyst reports. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Graco in a report on Wednesday, February 2nd. StockNews.com assumed coverage on shares of Graco in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research cut shares of Graco from a “buy” rating to a “hold” rating and set a $73.00 price objective on the stock. in a research report on Thursday, April 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $78.00.

The stock’s 50 day moving average price is $69.49 and its 200-day moving average price is $73.45. The stock has a market capitalization of $11.05 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 3.08 and a beta of 0.71. The company has a quick ratio of 1.94, a current ratio of 2.69 and a debt-to-equity ratio of 0.04.

Graco (NYSE:GGGGet Rating) last posted its quarterly earnings data on Monday, January 31st. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.02. Graco had a net margin of 22.13% and a return on equity of 27.74%. The firm had revenue of $539.62 million for the quarter, compared to the consensus estimate of $522.60 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. As a group, sell-side analysts predict that Graco Inc. will post 2.75 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 4th. Investors of record on Monday, April 18th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, April 14th. Graco’s payout ratio is 33.33%.

In other Graco news, CFO David M. Lowe sold 28,001 shares of the firm’s stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $70.70, for a total value of $1,979,670.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.52% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its position in Graco by 400.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 355 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 284 shares during the period. Amplius Wealth Advisors LLC purchased a new stake in Graco in the fourth quarter valued at approximately $30,000. Allworth Financial LP raised its position in Graco by 804.3% in the first quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 378 shares during the period. Duncker Streett & Co. Inc. raised its position in Graco by 51.7% in the fourth quarter. Duncker Streett & Co. Inc. now owns 408 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 139 shares during the period. Finally, Spire Wealth Management purchased a new stake in Graco in the fourth quarter valued at approximately $35,000. 83.49% of the stock is currently owned by hedge funds and other institutional investors.

About Graco (NYSE:GGG)

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, and precision dispensing solutions.

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