Wall Street brokerages predict that Graco Inc. (NYSE:GGG – Get Rating) will post $539.53 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Graco’s earnings, with the lowest sales estimate coming in at $527.80 million and the highest estimate coming in at $547.00 million. Graco posted sales of $507.16 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.4%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Graco will report full year sales of $2.13 billion for the current year, with estimates ranging from $2.10 billion to $2.18 billion. For the next fiscal year, analysts expect that the company will report sales of $2.26 billion, with estimates ranging from $2.19 billion to $2.40 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Graco.
Graco (NYSE:GGG – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The industrial products company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.05). Graco had a net margin of 21.45% and a return on equity of 26.28%. The company had revenue of $494.29 million during the quarter, compared to analysts’ expectations of $503.33 million. During the same period in the previous year, the business earned $0.58 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year.
NYSE:GGG traded up $0.76 during midday trading on Monday, hitting $60.80. The company’s stock had a trading volume of 392,855 shares, compared to its average volume of 815,387. Graco has a fifty-two week low of $58.41 and a fifty-two week high of $81.09. The firm’s 50 day moving average is $66.85 and its 200-day moving average is $72.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.98 and a quick ratio of 1.89. The firm has a market cap of $10.29 billion, a P/E ratio of 24.42, a P/E/G ratio of 2.77 and a beta of 0.75.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 4th. Stockholders of record on Monday, April 18th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, April 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.38%. Graco’s payout ratio is 33.74%.
In other Graco news, CFO David M. Lowe sold 28,001 shares of the firm’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $70.70, for a total value of $1,979,670.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J Kevin Gilligan sold 13,938 shares of the firm’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $63.50, for a total value of $885,063.00. The disclosure for this sale can be found here. Company insiders own 3.52% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Graco by 1.1% during the 1st quarter. BlackRock Inc. now owns 14,264,829 shares of the industrial products company’s stock worth $994,543,000 after acquiring an additional 156,441 shares during the period. State Street Corp raised its holdings in shares of Graco by 3.7% during the 4th quarter. State Street Corp now owns 5,670,918 shares of the industrial products company’s stock worth $457,189,000 after acquiring an additional 201,147 shares during the period. WCM Investment Management LLC raised its holdings in shares of Graco by 1.4% during the 1st quarter. WCM Investment Management LLC now owns 5,577,871 shares of the industrial products company’s stock worth $388,889,000 after acquiring an additional 78,608 shares during the period. Alecta Pensionsforsakring Omsesidigt raised its holdings in shares of Graco by 11.1% during the 4th quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,000,000 shares of the industrial products company’s stock worth $321,080,000 after acquiring an additional 400,000 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Graco by 2.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 2,800,652 shares of the industrial products company’s stock worth $195,261,000 after acquiring an additional 57,926 shares during the period. Institutional investors own 84.53% of the company’s stock.
Graco Company Profile (Get Rating)
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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