Graco (NYSE:GGG) Given “Market Perform” Rating at William Blair

William Blair restated their market perform rating on shares of Graco (NYSE:GGG) in a research note issued to investors on Friday morning, RTT News reports.

Other analysts have also issued research reports about the stock. StockNews.com upgraded shares of Graco from a hold rating to a buy rating in a research note on Wednesday, January 3rd. Robert W. Baird reduced their price target on shares of Graco from $90.00 to $87.00 and set a neutral rating for the company in a report on Friday. Jefferies Financial Group boosted their price target on shares of Graco from $90.00 to $100.00 and gave the company a buy rating in a report on Thursday, January 11th. Finally, Royal Bank of Canada upped their price objective on shares of Graco from $91.00 to $93.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $85.60.

Graco Stock Down 0.7 %

Shares of GGG stock opened at $82.56 on Friday. The stock has a market cap of $13.96 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 2.65 and a beta of 0.81. Graco has a fifty-two week low of $69.78 and a fifty-two week high of $94.77. The firm’s 50 day moving average price is $91.14 and its two-hundred day moving average price is $84.84.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). The firm had revenue of $492.19 million for the quarter, compared to analysts’ expectations of $536.19 million. Graco had a net margin of 23.15% and a return on equity of 23.01%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 EPS. On average, equities analysts forecast that Graco will post 3.14 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.255 per share. The ex-dividend date is Friday, April 12th. This represents a $1.02 annualized dividend and a dividend yield of 1.24%. Graco’s dividend payout ratio (DPR) is 35.17%.

Insider Buying and Selling at Graco

In other Graco news, insider Christian E. Rothe sold 15,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $90.04, for a total transaction of $1,350,600.00. Following the completion of the sale, the insider now directly owns 25,583 shares of the company’s stock, valued at $2,303,493.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Angela F. Wordell sold 3,588 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total transaction of $335,836.80. Following the transaction, the vice president now owns 12,725 shares of the company’s stock, valued at $1,191,060. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christian E. Rothe sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $90.04, for a total transaction of $1,350,600.00. Following the transaction, the insider now directly owns 25,583 shares in the company, valued at approximately $2,303,493.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,378 shares of company stock valued at $4,376,528. 2.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Graco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tobam grew its holdings in Graco by 2,330.8% during the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 303 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Graco in the fourth quarter worth $28,000. Fortitude Family Office LLC acquired a new stake in shares of Graco in the fourth quarter worth $29,000. Rise Advisors LLC acquired a new stake in Graco during the first quarter worth $38,000. Finally, Northwest Financial Advisors acquired a new stake in Graco during the fourth quarter worth $50,000. Institutional investors own 93.88% of the company’s stock.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.