Graco Inc - GGG STOCK NEWS

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.

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.

Graco Inc. (NYSE: GGG) reported a 10% increase in net sales for Q3 2020, totaling $439.3 million, driven primarily by the Contractor segment. Operating earnings grew 21% to $125.0 million, while net earnings surged 36% to $114.1 million. However, year-to-date sales declined 4% to $1,179.8 million, reflecting challenges in the Industrial and Process segments. Adjusted diluted earnings per share rose 31% to $0.59. The company anticipates ongoing uncertainty in markets served by the Industrial and Process segments.