Latest activity in recent index: Graco Inc. (NYSE: GGG)

On 07 Jan 2020, Graco Inc. stock identified change of 26.73% away from 52-week low price and recently located move of -2.25% off 52-week high price. It has market worth of $9400.65M and dividend yield of 1.28%. GGG stock has been recorded 5.80% away from 50 day moving average and 12.31% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.36% off 20-day moving average.

Graco Inc. (GGG) recently reported results for the quarter and year ended December 27, 2019.

Consolidated Results

Sales for the quarter increased 1 percent from the comparable period last year (2 percent at consistent translation rates). Sales increased 4 percent in the Americas and 11 percent in EMEA (14 percent at consistent translation rates), and reduced 17 percent in Asia Pacific (16 percent at consistent translation rates). Sales for the year reduced slightly from the comparable period last year (up 1 percent at consistent translation rates), with increases of 4 percent in the Americas and 3 percent in EMEA (8 percent at consistent translation rates), offset by a 17 percent decrease in Asia Pacific (14 percent at consistent translation rates). Changes in currency translation rates reduced worldwide sales by about $3M (1 percentage point) for the quarter and $29M (1 percentage point) for the year. Sales from purchased operations contributed about $4M (1 percentage point) of growth to the fourth quarter, and did not have a important impact on full-year comparisons.

Gross profit margin rates for the quarter and year reduced from the comparable periods last year driven by lower factory volume, unfavorable channel and product mix, and changes in currency translation rates. Price changes implemented early in the year offset the adverse impact of higher material costs, including tariffs.

Total operating expenses for the quarter and year reduced $7M (6 percent) and $11M (2 percent), respectively, contrast to last year. Reductions in volume and earnings-based expenses over offset increases in product development expenses, which increased 6 percent for the quarter and 7 percent for the year.

Other expense for the year reduced $6M from last year, driven by gains on investments used to fund certain pension liabilities, and by lower exchange losses on net assets of foreign operations.

The effective income tax rate was 16 percent for the quarter and 15 percent for the year, both down about 2 percentage points from the comparable periods last year. A raise in excess tax benefits from stock option exercises drove the decrease for the quarter. For the year, revaluation of deferred taxes pursuant to a tax rate change in a foreign jurisdiction and a raise in non-recurring benefits from other tax planning activities drove the decrease.

Outlook

“Heading into 2020, we expect challenging end market conditions to remain in place for at least the first half of the year in our Industrial and Process sections” stated McHale. “Our outlook for the Contractor section remains positive as favorable conditions continue, and demand for our products is solid across major end markets and product categories. As a result, our outlook for 2020 is low single-digit revenue growth on an organic, constant currency basis.”

The Industrial Goods sector company, Graco Inc. noticed change of -1.01% to $54.76 along volume of 406046 shares in recent session compared to an average volume of 712.01K. GGG’s shares are at 17.64% for the quarter and driving a 25.34% return over the course of the past year and is now at 5.31% since this point in 2018.   The average volatility for the week at 1.40% and for month was at 1.62%. There are 171.67M shares outstanding and 164.88M shares are floated in market.

 

Gregory Amaral

Gregory Amaral–  Business Stories I am Gregory Amaral with more than 10 years of experience in the Stock market industry, I am energetic about Finance and Business news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of Observednews.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Business News category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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