Graco (NYSE:GGG) Hits New 52-Week Low - Here's Why

Shares of Graco Inc. (NYSE:GGG - Get Free Report) hit a new 52-week low during trading on Friday . The company 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.

Analyst Ratings Changes

A number of research analysts have issued reports on GGG shares. DA Davidson set a $85.00 price objective on shares of Graco in a research report on Friday, January 31st. BNP Paribas upgraded shares of Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price target on the stock in a research report on Thursday, December 19th. Finally, Royal Bank of Canada raised their price objective on shares of 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $93.00.

Graco Stock Performance

The business's 50-day moving average is $84.04 and its 200-day moving average is $85.35. The company has a market capitalization of $13.30 billion, a PE ratio of 28.04, a PEG ratio of 2.85 and a beta of 0.92.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. Analysts expect that Graco Inc. will post 3.06 EPS for the current year.

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Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.39%. Graco's payout ratio is presently 39.01%.

Institutional Trading of Graco

Institutional investors have recently bought and sold shares of the company. Merit Financial Group LLC bought a new position in shares of Graco in the first quarter worth approximately $590,000. GAMMA Investing LLC lifted its position in Graco by 9,453.1% in the 1st quarter. GAMMA Investing LLC now owns 400,180 shares of the industrial products company's stock valued at $33,419,000 after acquiring an additional 395,991 shares in the last quarter. California State Teachers Retirement System boosted its stake in Graco by 4.0% during the 4th quarter. California State Teachers Retirement System now owns 285,706 shares of the industrial products company's stock valued at $24,082,000 after purchasing an additional 10,887 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Graco by 53.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 95,253 shares of the industrial products company's stock worth $8,029,000 after purchasing an additional 33,015 shares in the last quarter. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of Graco in the fourth quarter worth $46,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

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.