Caroline M. Chambers, President of EMEA at Graco Inc . (NYSE:), executed a series of stock transactions on December 3, 2024, as reported in a recent SEC filing. Chambers sold 8,280 shares of Graco’s common stock at an average price of $90.57 per share, totaling approximately $749,919. The transaction occurred with the stock trading near its 52-week high of $94.77, at a time when InvestingPro analysis indicates the company is trading above its Fair Value.
Additionally, Chambers exercised stock options to acquire 8,280 shares at a price of $24.7934 per share, with a total value of $205,289. Following these transactions, Chambers holds 57,611.9717 shares of Graco common stock.
These transactions are part of Chambers’ ongoing management of her equity holdings in the company.
In other recent news, Graco Inc. has amended its credit agreement, extending the maturity of its $750 million credit facility from March 2026 to October 2029. This move, involving U.S. Bank National Association and other participating lenders, is anticipated to provide Graco with increased financial flexibility. On the earnings front, Graco reported a decrease in third-quarter sales and adjusted net earnings, with figures coming in at $519 million and $122 million respectively. This represents a 4% and 8% drop respectively. Despite this, Goldman Sachs maintained its Neutral stance on Graco.
The company also announced a restructuring into four business divisions aimed at improving growth and efficiency. Acquisitions of PCT Systems and Corob are expected to bolster annual revenues by approximately $130 million. Notably, Graco has maintained its full-year 2024 organic growth guidance at a low single-digit decline. These are the recent developments for Graco Inc., a company that remains committed to disciplined capital deployment and exploring new market opportunities.
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