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David J. Thompson, President of the Global Contractor Division at Graco Inc . (NYSE:GGG), a $14.2 billion industrial equipment manufacturer with impressive gross profit margins of 53%, recently reported a significant stock transaction. On May 13, Thompson sold 3,588 shares of Graco’s common stock at an average price of $86.23 per share, totaling approximately $309,392. The shares were sold at prices ranging from $86.15 to $86.34, near the stock’s 52-week high of $92.86.
On the same day, Thompson also exercised stock options to acquire 3,588 shares at a price of $23.85 per share, with a total value of $85,561. Following these transactions, Thompson holds 27,520.37 shares of Graco’s common stock directly. According to InvestingPro analysis, Graco currently trades above its Fair Value, with 13 additional key insights available to subscribers, including the company’s impressive dividend history and strong financial health metrics.
In other recent news, Graco Inc. reported its first-quarter 2024 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.72, compared to the forecasted $0.67. The company also reported revenue of $528 million, slightly above the expected $526.95 million, marking a 7% year-over-year increase. Despite these positive results, Graco’s stock experienced a slight dip in after-hours trading, reflecting broader market uncertainties. In addition, Graco held its Annual Meeting of Shareholders, where three directors were elected for three-year terms and Deloitte & Touche LLP was ratified as the company’s independent registered public accounting firm for fiscal year 2025. Shareholders also approved, on an advisory basis, the compensation paid to the company’s Named Executive Officers. The company’s strategic initiatives, including its CoreUp acquisition and the One Graco initiative, are contributing to operational efficiencies. Graco maintains a conservative outlook for the year, projecting low single-digit organic constant currency growth. The company plans capital expenditures of $50-60 million in 2025, while also anticipating a 1-2% revenue impact from ongoing China tariffs.
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