Graco (NYSE:GGG) Reaches New 12-Month Low – Here’s What Happened

Graco Inc. (NYSE:GGG) shares hit a new 52-week low on Friday . The stock traded as low as $77.37 and last traded at $77.27, with a volume of 161672 shares. The stock had previously closed at $80.22.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GGG. DA Davidson set a $85.00 target price on shares of Graco in a report on Friday, January 31st. BNP Paribas upgraded Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a report on Thursday, December 19th. Finally, Royal Bank of Canada lifted their price objective on Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $93.00.

Graco Stock Down 5.6 %

The firm’s fifty day simple moving average is $84.62 and its 200-day simple moving average is $85.57. The company has a market cap of $12.73 billion, a PE ratio of 26.84, a P/E/G ratio of 2.85 and a beta of 0.83.

Graco (NYSE:GGG) last posted its earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. On average, analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Monday, April 14th. Graco’s dividend payout ratio is presently 39.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Institute for Wealth Management LLC. raised its position in shares of Graco by 2.5% in the fourth quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company’s stock valued at $410,000 after buying an additional 119 shares during the last quarter. Albert D Mason Inc. grew its stake in Graco by 0.4% in the 4th quarter. Albert D Mason Inc. now owns 27,923 shares of the industrial products company’s stock worth $2,354,000 after acquiring an additional 121 shares during the period. Optas LLC raised its holdings in Graco by 4.0% in the 4th quarter. Optas LLC now owns 3,360 shares of the industrial products company’s stock valued at $283,000 after acquiring an additional 128 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Graco by 39.1% during the 4th quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 136 shares during the period. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of Graco by 1.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company’s stock worth $1,226,000 after purchasing an additional 138 shares during the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

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 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.