The stock is trading at $131.79 barely above the 50 day moving average of $124.70 and quite a bit higher than the 200 day moving average of $114.01. The 50 day moving average went up $7.09 or +5.68% and the 200 day average went up $17.78 or +15.60%. Trading volume for Graco Inc. was 194K by the end of trading on Tuesday. Shares saw a steep decrease in trading volume of 27.79% under the normal average daily volume.
Investors are feeling more bullish on shares of Graco Inc. if you take a look at the downtick in short interest. The company saw a fall in short interest of -8.76% as of October 13, 2017 from the last reporting period. Short shares fell 148,090 over that timeframe. The days to cover decreased to 7.0 and the short interest percentage is 0.03% as of October 13.
Graco Inc. (NYSE:GGG) has been the object of insider selling activity recently. Mark W. Sheahan, VP let go of $3,944,700 worth of shares at an average price of $131.49 on October 30th. That brings Sheahan’s holdings to $2,569,000 per an SEC filing yesterday. Director Eric Etchart sold 759 shares at a price of $124.90 on Tue the 3rd. The Director now owns $1,629,736 of the stock as recorded in a recent Form 4 SEC filing.
VP Bernard J. Moreau disclosed the sale of 1,248 shares of (GGG). The shares were sold on September 15th for an average price of $120.31. The VP now owns $1,007,790 of the stock per the Form 4 SEC filing.
These funds have shifted positions in (GGG). As of the end of the quarter Palisade Asset Management, LLC had disposed of 50 shares trimming its position 0.2%. The value of the company’s investment in Graco Inc. increased from $2,694,000 to $3,043,000 a change of $349,000 quarter over quarter. As of quarter end Parametrica Management Ltd had sold a total of 1,415 shares trimming its holdings by 41.7%. The value of the investment in GGG went from $371,000 to $244,000 decreasing 34.2% quarter to quarter.
As of quarter end Underhill Investment Management LLC had sold a total of 500 shares trimming its stake by 0.5%. The value of the investment in Graco Inc. went from $11,365,000 to $12,802,000 a change of 12.6% for the reporting period. Clarkston Capital Partners, LLC downsized its investment by selling 149,107 shares a decrease of 43.9%. Clarkston Capital Partners, LLC currently owns 190,726 shares worth $23,591,000. The total value of its holdings decreased 36.5%.
On July 31, 2017 the stock rating was changed to “Peer Perform” by Wolfe Research up from the previous “Underperform” rating.
The company is up by 0.80% since yesterday’s close of $131.79. The company also announced a dividend that was paid on Wednesday the 1st of November 2017. The dividend was $0.360 per share for the quarter which comes to $1.44 on an annualized basis. This dividend represents a yield of $1.10. The ex-dividend date was Friday the 13th of October 2017.
Graco Inc.’s P/E ratio is 83.62 and market capitalization is 7.38B. As of the last earnings report the EPS was $1.58 and is projected to be $4.39 for the current year with 55,995,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $1.10 and the next full year EPS is anticipated to be $4.79.
Graco Inc., launched on December 18, 1947, designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids. The Process segment markets pumps, valves, meters and accessories to move and dispense chemicals, oil and natural gas, water, wastewater, petroleum, food, lubricants and other fluids. The Contractor segment markets sprayers for architectural coatings for painting, corrosion control, texture and line striping. Its equipment is used in the manufacturing, processing, construction and maintenance industries. The Company sells its products in North, Central and South America (the Americas), Europe, the Middle East and Africa (EMEA), and Asia Pacific..