Welcome to our dedicated page for Graco news (Ticker: GGG), a resource for investors and traders seeking the latest updates and insights on Graco stock.
Graco Inc. (NYSE: GGG) is a Minneapolis-based manufacturer of equipment used to move, measure, control, dispense and spray fluid and powder materials. This news page focuses on company announcements, earnings results and corporate developments that affect Graco’s role in pump and pumping equipment manufacturing and related industrial markets.
Investors and industry observers can use this feed to follow Graco’s quarterly earnings releases, where the company reports segment performance for its Contractor, Industrial and Expansion Markets segments, along with regional sales trends across the Americas, EMEA and Asia Pacific. These releases often include commentary on organic revenue, contributions from acquired operations, tariffs, pricing actions and product mix.
The news stream also covers capital allocation decisions such as regular quarterly dividends and share repurchase authorizations approved by the Board of Directors. Announcements detailing dividend amounts, record dates and payment dates, as well as new or expanded repurchase plans, provide insight into how Graco manages its common stock and returns capital to shareholders.
Another key component of Graco news is mergers and acquisitions activity. Recent items include the completed acquisition of Color Service S.r.l., a global manufacturer of specialized automatic precision dosing systems for powders and liquids, and the acquisition of Radia (Red Devil Equipment Company), a manufacturer of mixing, shaking and automated material handling equipment for the paint and coatings industry. These updates explain how Graco is broadening its powder handling and color solutions capabilities.
Board and governance updates, such as the appointment of new directors and committee assignments, are also reported through Graco’s news releases. For ongoing insight into the company’s financial performance, strategic acquisitions and governance actions, this page aggregates Graco-related news in one place for regular review.
Graco Inc. (NYSE:GGG) announced the appointment of Mark W. Sheahan as President and CEO, effective June 10, 2021, following Patrick J. McHale's retirement. McHale, who has led Graco since 2007, will assist Sheahan during the transition until September 15, 2021. Sheahan, 56, has been with Graco since 1995 and served as CFO since 2018. The Board Chairman, Lee R. Mitau, emphasized Sheahan’s proven leadership and strategic capabilities, anticipating a smooth transition as Graco continues to prioritize operational excellence and innovation.
The Board of Directors of Graco Inc. (NYSE:GGG) has declared a quarterly dividend of $0.1875 per share, scheduled for payment on May 5, 2021. Shareholders of record as of April 19, 2021 will receive this dividend. Graco has approximately 168.8 million shares outstanding, indicating a continued commitment to returning value to its shareholders.
Graco Inc. (NYSE:GGG) has launched the Voltex™ Dynamic Mix Valve, designed for effective dispensing of two-component foaming urethanes and silicones. This valve ensures consistent blending, crucial for applications in electric vehicle (EV) battery encapsulation. Built to handle challenging materials, the Voltex features durable seals, disposable mixing elements, and advanced error detection technology, minimizing downtime and maintenance. Its flexible design integrates with existing Graco metering systems, serving diverse applications from automotive to industrial sectors.
Graco Inc. (NYSE:GGG) has acquired approximately 100 acres of undeveloped land in Dayton, Minnesota, part of the French Lake Industrial Center. This acquisition aims to support Graco's growth by facilitating the relocation of two business divisions from Minneapolis. A 500,000-square-foot facility is planned for development along West French Lake Road, with completion targeted for late 2022. Graco, a leader in fluid handling technology, operates globally and is committed to using this expansion to enhance its design, manufacturing, and distribution capabilities.
Graco Inc. (NYSE: GGG) reported a strong fourth quarter for 2020, with net sales of $470.3 million, a 14% increase year-over-year. Operating earnings rose by 27% to $132.1 million, while net earnings surged 35% to $114.7 million. Diluted EPS was up 35% to $0.66. Despite challenges in some markets, particularly in EMEA, the Contractor segment showed robust growth with a 35% sales increase. For the year, however, net sales were nearly unchanged at $1,650.1 million, indicating mixed performance. The effective tax rate decreased to 11%, supporting net earnings growth.
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Graco Inc. (NYSE:GGG) has introduced the Intelligent Paint Kitchen (IPK), enhancing control over pneumatic pumps and agitators in industrial paint systems. This innovation allows for remote management and control of both electric and pneumatic equipment simultaneously. It features smart sensors and actuators for optimizing paint circulation, offering controls for pressure, flow rates, and tank levels. The IPK's capability to control agitator speeds and reduce energy costs presents a significant advancement for paint mix rooms, enhancing operational efficiency.
Graco Inc. (NYSE: GGG) is set to announce its Fourth Quarter 2020 earnings on January 25, 2021, after market close. A detailed announcement will be accessible on the company’s website. Management will hold a conference call on January 26, 2021, at 11 a.m. ET to discuss the results with analysts and investors. The call will be available via live webcast, with a replay offered shortly thereafter. Graco specializes in fluid management technology for various industries, providing systems to move, measure, control, dispense, and spray materials.
Graco Inc. (NYSE:GGG) has appointed Brett C. Carter to its Board of Directors, effective February 11, 2021. Mr. Carter, currently the Executive Vice President and Chief Customer and Innovation Officer at Xcel Energy, brings extensive experience from his previous roles at Bank of America and Duke Energy. His expertise spans operations, marketing, customer service, and brand strategy, aligning with Graco's commitment to delivering exceptional customer service. Carter will also serve on the Audit Committee and Management Organization and Compensation Committee.
Graco Inc. (NYSE:GGG) has declared a quarterly dividend of $0.1875 per share, marking a 7.1% increase. The dividend is payable on February 3, 2021, to shareholders on record as of January 19, 2021. With approximately 168.4 million shares outstanding, this move reflects the company's commitment to returning value to its shareholders amidst its ongoing operations in fluid management technology across various industries.