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Industrials - Industrial - Machinery - NYSE - US
$ 89.62
0.505 %
$ 15.1 B
Market Cap
31.67
P/E
1. INTRINSIC VALUE

Graco Inc. designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions. It also provides liquid finishing equipment; paint circulating and supply pumps; paint circulating advanced control systems; plural component coating proportioners; spare parts and accessories; and powder finishing products to coat powder finishing on metals under the Gema and SAT brands.[ Read More ]

The intrinsic value of one GGG stock under the base case scenario is HIDDEN Compared to the current market price of 89.6 USD, Graco Inc. is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart GGG

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FINANCIALS
2.2 B REVENUE
2.43%
647 M OPERATING INCOME
12.95%
507 M NET INCOME
9.96%
651 M OPERATING CASH FLOW
72.50%
-185 M INVESTING CASH FLOW
18.32%
-268 M FINANCING CASH FLOW
38.30%
519 M REVENUE
-6.15%
146 M OPERATING INCOME
-9.69%
122 M NET INCOME
-8.11%
179 M OPERATING CASH FLOW
28.46%
-27.3 M INVESTING CASH FLOW
24.62%
-54.5 M FINANCING CASH FLOW
7.62%
Balance Sheet Decomposition Graco Inc.
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Current Assets 1.37 B
Cash & Short-Term Investments 538 M
Receivables 354 M
Other Current Assets 473 M
Non-Current Assets 1.36 B
Long-Term Investments 9.66 M
PP&E 760 M
Other Non-Current Assets 586 M
Current Liabilities 395 M
Accounts Payable 72.2 M
Short-Term Debt 38.3 M
Other Current Liabilities 285 M
Non-Current Liabilities 103 M
Long-Term Debt 11.8 M
Other Non-Current Liabilities 90.8 M
EFFICIENCY
Earnings Waterfall Graco Inc.
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Revenue 2.2 B
Cost Of Revenue 1.03 B
Gross Profit 1.16 B
Operating Expenses 514 M
Operating Income 647 M
Other Expenses 140 M
Net Income 507 M
RATIOS
52.88% GROSS MARGIN
52.88%
29.46% OPERATING MARGIN
29.46%
23.07% NET MARGIN
23.07%
22.77% ROE
22.77%
18.61% ROA
18.61%
23.87% ROIC
23.87%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Graco Inc.
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Net Income 507 M
Depreciation & Amortization 74.3 M
Capital Expenditures -185 M
Stock-Based Compensation 30.2 M
Change in Working Capital 7.13 M
Others 21.3 M
Free Cash Flow 466 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Graco Inc.
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Wall Street analysts predict an average 1-year price target for GGG of $97 , with forecasts ranging from a low of $77 to a high of $110 .
GGG Lowest Price Target Wall Street Target
77 USD -14.08%
GGG Average Price Target Wall Street Target
97 USD 8.23%
GGG Highest Price Target Wall Street Target
110 USD 22.74%
4. DIVIDEND ANALYSIS
0.29% DIVIDEND YIELD
0.255 USD DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership Graco Inc.
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Sold
0-3 MONTHS
2.34 M USD 3
3-6 MONTHS
1.51 M USD 1
6-9 MONTHS
12.2 M USD 7
9-12 MONTHS
4.58 M USD 8
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
Date Value Insider Amount Avg Price
1 week ago
Nov 07, 2024
Sell 284 K USD
Thompson David J
President, Worldwide CED
- 3216
88.31 USD
1 week ago
Nov 06, 2024
Sell 164 K USD
Etchart Eric
Director
- 1866
88.08 USD
1 week ago
Nov 06, 2024
Sell 1.06 M USD
Chambers Caroline M
President, EMEA
- 12000
88.5721 USD
1 week ago
Nov 04, 2024
Sell 830 K USD
Etchart Eric
Director
- 10000
83 USD
3 months ago
Jul 30, 2024
Sell 1.5 M USD
GILLIGAN J KEVIN
Director
- 17902
83.6731 USD
3 months ago
Jul 30, 2024
Sell 8.27 K USD
GILLIGAN J KEVIN
Director
- 98
84.35 USD
6 months ago
May 06, 2024
Sell 27.7 USD
O'Shea Peter J
President, WW LED, Pres SCA
- 0.334
82.94 USD
8 months ago
Mar 15, 2024
Sell 5.95 M USD
JOHNSON DALE D
Chief Comm Development Officer
- 63510
93.6954 USD
8 months ago
Mar 13, 2024
Sell 336 K USD
Wordell Angela F
Executive VP, Operations
- 3588
93.5973 USD
8 months ago
Mar 11, 2024
Sell 465 K USD
FERAGEN JODY H
Director
- 5036
92.2895 USD
8 months ago
Mar 08, 2024
Sell 232 K USD
White Timothy R
Pres., Worldwide Process Div
- 2500
92.8209 USD
8 months ago
Feb 29, 2024
Sell 812 K USD
Rothe Christian E
President, Industrial Division
- 9012
90.0745 USD
7 months ago
Mar 29, 2024
Sell 910 K USD
Rothe Christian E
President, Industrial Division
- 10000
91.019 USD
8 months ago
Feb 28, 2024
Sell 539 K USD
Rothe Christian E
President, Industrial Division
- 5988
90.0152 USD
8 months ago
Feb 27, 2024
Sell 27 K USD
Merengo Claudio
President, WW Powder Division
- 300
90.04 USD
8 months ago
Feb 28, 2024
Sell 478 K USD
Merengo Claudio
President, WW Powder Division
- 5312
90.0422 USD
8 months ago
Feb 23, 2024
Sell 1.35 M USD
Rothe Christian E
President, Industrial Division
- 15000
90.04 USD
8 months ago
Feb 26, 2024
Sell 1.14 M USD
Merengo Claudio
President, WW Powder Division
- 12652
90.0194 USD
9 months ago
Feb 09, 2024
Sell 123 K USD
Gargano Anthony J
President, Asia Pacific
- 1395
88 USD
9 months ago
Feb 07, 2024
Sell 253 K USD
White Timothy R
Pres., Worldwide Process Div
- 2895
87.4888 USD
9 months ago
Feb 05, 2024
Sell 725 K USD
O'Shea Peter J
President, WW LED, Pres SCA
- 8420
86.0894 USD
9 months ago
Feb 02, 2024
Sell 714 K USD
Etchart Eric
Director
- 8320
85.8529 USD
9 months ago
Feb 02, 2024
Sell 93.5 K USD
Etchart Eric
Director
- 1113
84.04 USD
9 months ago
Feb 02, 2024
Sell 601 USD
Etchart Eric
Director
- 7
85.9 USD
9 months ago
Feb 02, 2024
Sell 167 K USD
Etchart Eric
Director
- 1938
86.08 USD
10 months ago
Jan 05, 2024
Sell 1.07 M USD
SHEAHAN MARK W
President and CEO
- 12884
83.37 USD
11 months ago
Nov 30, 2023
Sell 232 K USD
Wordell Angela F
Executive VP, Operations
- 2895
80.2698 USD
1 year ago
Nov 17, 2023
Sell 117 K USD
Schoenrock Kathryn L
EVP, Chief Technology Officer
- 1466
79.84 USD
11 months ago
Nov 21, 2023
Sell 31.7 K USD
Schoenrock Kathryn L
EVP, Chief Technology Officer
- 392
80.7886 USD
11 months ago
Nov 20, 2023
Sell 1.05 M USD
Chambers Caroline M
President, EMEA
- 12992
80.5862 USD
1 year ago
Nov 02, 2023
Sell 226 K USD
Etchart Eric
Director
- 3000
75.2 USD
1 year ago
Nov 03, 2023
Sell 232 K USD
Etchart Eric
Director
- 3000
77.5 USD
1 year ago
Sep 13, 2023
Sell 1.35 M USD
VAN SANT R WILLIAM
Director
- 18000
75.0699 USD
1 year ago
Sep 13, 2023
Sell 966 K USD
VAN SANT R WILLIAM
Director
- 12870
75.0927 USD
1 year ago
Aug 15, 2023
Sell 544 K USD
Chambers Caroline M
President, EMEA
- 7060
77.0443 USD
1 year ago
Jul 31, 2023
Bought 99.8 K USD
SHEAHAN MARK W
President and CEO
+ 1263
79.04 USD
1 year ago
Jun 14, 2023
Sell 1.44 M USD
O'Shea Peter J
President, WW LED, Pres SCA
- 17000
84.4687 USD
1 year ago
Jun 14, 2023
Sell 229 K USD
White Timothy R
Pres., Worldwide Process Div
- 2700
84.7669 USD
1 year ago
May 22, 2023
Sell 1.2 M USD
Johnson Jeffrey P.
President, Electric Motor Div
- 15252
78.5531 USD
1 year ago
May 18, 2023
Sell 508 K USD
Johnson Jeffrey P.
President, Electric Motor Div
- 6463
78.5246 USD
1 year ago
May 19, 2023
Sell 812 K USD
Johnson Jeffrey P.
President, Electric Motor Div
- 10315
78.7208 USD
1 year ago
May 08, 2023
Sell 488 K USD
Johnson Jeffrey P.
President, Electric Motor Div
- 6220
78.5126 USD
1 year ago
May 09, 2023
Sell 379 K USD
Johnson Jeffrey P.
President, Electric Motor Div
- 4830
78.5436 USD
1 year ago
May 02, 2023
Sell 3.71 M USD
JOHNSON DALE D
President, Worldwide CED
- 46830
79.2334 USD
1 year ago
May 02, 2023
Sell 3.42 M USD
JOHNSON DALE D
President, Worldwide CED
- 43080
79.4508 USD
1 year ago
May 02, 2023
Sell 23.9 K USD
JOHNSON DALE D
President, Worldwide CED
- 300
79.8067 USD
1 year ago
May 02, 2023
Sell 399 K USD
JOHNSON DALE D
President, Worldwide CED
- 5000
79.8772 USD
1 year ago
May 02, 2023
Sell 1.11 M USD
MITAU LEE R
Director
- 13938
79.7156 USD
1 year ago
May 01, 2023
Sell 1.75 M USD
Merengo Claudio
President, Worldwide Gema
- 21793
80.3207 USD
1 year ago
May 01, 2023
Sell 1.3 M USD
GILLIGAN J KEVIN
Director
- 16320
79.8832 USD
1 year ago
Feb 09, 2023
Sell 2.18 M USD
LOWE DAVID M
CFO and Treasurer
- 31128
70.17 USD
1 year ago
Feb 06, 2023
Sell 320 K USD
VAN SANT R WILLIAM
Director
- 4500
71.1127 USD
1 year ago
Feb 06, 2023
Sell 1.16 M USD
VAN SANT R WILLIAM
Director
- 16320
71.1476 USD
1 year ago
Feb 02, 2023
Sell 431 K USD
Etchart Eric
Director
- 6000
71.9 USD
1 year ago
Nov 23, 2022
Sell 3.79 M USD
Johnson Jeffrey P.
President, Electric Motor Div
- 54000
70.1911 USD
1 year ago
Nov 23, 2022
Sell 190 K USD
Wordell Angela F
Executive VP, Operations
- 2700
70.3727 USD
1 year ago
Nov 22, 2022
Sell 1.33 M USD
Chambers Caroline M
President, EMEA
- 19041
69.9519 USD
2 years ago
Aug 18, 2022
Sell 636 K USD
Ahlers David M
Executive Vice President
- 9051
70.2219 USD
2 years ago
Jul 29, 2022
Sell 403 K USD
Etchart Eric
director:
- 6000
67.2 USD
2 years ago
Jun 14, 2022
Sell 352 K USD
Etchart Eric
director:
- 6000
58.64 USD
2 years ago
May 05, 2022
Sell 885 K USD
GILLIGAN J KEVIN
director:
- 13938
63.4995 USD
2 years ago
Feb 15, 2022
Sell 1.98 M USD
LOWE DAVID M
CFO and Treasurer
- 28001
70.7 USD
2 years ago
Dec 10, 2021
Sell 25.6 K USD
Etchart Eric
Director
- 322
79.6 USD
3 years ago
Nov 17, 2021
Sell 640 K USD
Chambers Caroline M
President, EMEA
- 8234
77.7055 USD
3 years ago
Nov 09, 2021
Sell 47.8 K USD
Etchart Eric
Director
- 600
79.6 USD
3 years ago
Sep 08, 2021
Sell 200 K USD
White Timothy R
President, Worldwide Process
- 2565
77.9481 USD
3 years ago
Aug 06, 2021
Sell 1.02 M USD
Chambers Caroline M
President, EMEA
- 13000
78.4763 USD
3 years ago
Apr 26, 2021
Sell 1.39 M USD
GILLIGAN J KEVIN
Director
- 18000
77.0203 USD
3 years ago
Apr 26, 2021
Sell 1.49 M USD
JOHNSON DALE D
President, Worldwide CED
- 19297
77.0453 USD
3 years ago
Apr 27, 2021
Sell 2.37 M USD
JOHNSON DALE D
President, Worldwide CED
- 30703
77.1419 USD
3 years ago
Apr 26, 2021
Sell 1.29 M USD
MITAU LEE R
Director
- 16800
76.9048 USD
3 years ago
Apr 27, 2021
Sell 1.39 M USD
MITAU LEE R
Director
- 18000
77.0231 USD
3 years ago
Apr 22, 2021
Sell 394 K USD
Etchart Eric
Director
- 5100
77.2 USD
3 years ago
Mar 15, 2021
Sell 1.89 M USD
Rothe Christian E
President, AFTD
- 27060
70 USD
3 years ago
Mar 15, 2021
Sell 2.26 M USD
Rothe Christian E
President, AFTD
- 32280
70 USD
3 years ago
Feb 19, 2021
Sell 976 K USD
VAN SANT R WILLIAM
Director
- 13938
70.0424 USD
3 years ago
Feb 17, 2021
Sell 1.07 M USD
MCHALE PATRICK J
President and CEO
- 15254
70.1523 USD
3 years ago
Feb 12, 2021
Sell 3.86 M USD
LOWE DAVID M
President, Process Division
- 54000
71.5468 USD
3 years ago
Dec 11, 2020
Sell 500 K USD
JOHNSON DALE D
President, Worldwide CED
- 7304
68.5 USD
3 years ago
Nov 23, 2020
Sell 253 K USD
Wordell Angela F
EVP, Operations, President ONG
- 3690
68.5088 USD
4 years ago
Nov 11, 2020
Sell 3.66 M USD
SHEAHAN MARK W
CFO and Treasurer
- 54000
67.7933 USD
4 years ago
Nov 09, 2020
Sell 3.74 M USD
Ahlers David M
Executive Vice President
- 55800
67.0314 USD
4 years ago
Nov 04, 2020
Sell 257 K USD
Etchart Eric
Director
- 4000
64.1616 USD
4 years ago
Nov 03, 2020
Sell 481 K USD
FERAGEN JODY H
Director
- 7592
63.3113 USD
4 years ago
Nov 02, 2020
Sell 6.25 M USD
MCHALE PATRICK J
President and CEO
- 100203
62.3372 USD
4 years ago
Nov 02, 2020
Sell 11.5 K USD
MCHALE PATRICK J
President and CEO
- 183
62.9418 USD
4 years ago
Nov 02, 2020
Sell 3.98 M USD
MCHALE PATRICK J
President and CEO
- 63835
62.3383 USD
4 years ago
Nov 03, 2020
Sell 7.78 M USD
MCHALE PATRICK J
President and CEO
- 122867
63.3559 USD
4 years ago
Oct 30, 2020
Sell 60.6 K USD
MCHALE PATRICK J
President and CEO
- 977
62.0091 USD
4 years ago
Oct 29, 2020
Sell 182 K USD
MCHALE PATRICK J
President and CEO
- 2940
62.0253 USD
4 years ago
Oct 27, 2020
Sell 8.07 M USD
MCHALE PATRICK J
President and CEO
- 128444
62.8259 USD
4 years ago
Oct 27, 2020
Sell 5.2 M USD
MCHALE PATRICK J
President and CEO
- 82734
62.8307 USD
4 years ago
Oct 28, 2020
Sell 191 K USD
MCHALE PATRICK J
President and CEO
- 3072
62.0939 USD
4 years ago
Oct 27, 2020
Sell 375 K USD
MCHALE PATRICK J
President and CEO
- 5916
63.3642 USD
4 years ago
Oct 27, 2020
Sell 176 K USD
MCHALE PATRICK J
President and CEO
- 2783
63.4122 USD
4 years ago
Oct 26, 2020
Sell 1.36 M USD
MITAU LEE R
Director
- 21300
63.7652 USD
7. News
Here's Why Investors Should Avoid Investing in Graco Stock Now Softness in the Industrial and Process segments and increasing costs weigh on GGG. Unfavorable foreign currency movement is an added concern. zacks.com - 2 days ago
Graco Inc. Has Completed Its Previously-Announced Acquisition of Corob S.p.A., a Global Manufacturer of Hi-tech Dispensing and Mixing Solutions for Paints and Coatings MINNEAPOLIS--(BUSINESS WIRE)--Graco Inc. (NYSE:GGG) announced today that it has completed its previously-announced acquisition of Corob S.p.A. (“Corob”) for €230 million, subject to customary adjustments, with up to €30 million in additional contingent consideration. Corob is a global leader in the design and manufacturing of high-performance volumetric and gravimetric dispense, mixing, and shaking equipment used in mission-critical tinting applications. Corob had revenue of €110 million in 202. businesswire.com - 1 week ago
Graco Inc (GGG) Q3 2024 Earnings Call Transcript Graco Inc (NYSE:GGG ) Q3 2024 Results Conference Call October 24, 2024 11:00 AM ET Company Participants Chris Knutson - Executive VP, Corporate Controller & Principal Accounting Officer Mark Sheahan - President, CEO & Director David Lowe - CFO & Treasurer Conference Call Participants Deane Dray - RBC Capital Markets Mike Halloran - Baird Saree Boroditsky - Jefferies Matt Summerville - D.A. Davidson Jeff Hammond - KeyBanc Capital Markets Andrew Buscaglia - BNP Paribas Walter Liptak - Seaport Research Operator Good morning, and welcome to the Third Quarter Conference Call for Graco Inc. If you wish to access the replay for this call, you may do so by visiting the company's website at www.graco.com. seekingalpha.com - 3 weeks ago
Graco's Earnings Miss Estimates in Q3, Sales Decline 4% Y/Y GGG's third-quarter 2024 sales decline 4% year over year due to lower demand in all its segments. zacks.com - 3 weeks ago
Graco (GGG) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates While the top- and bottom-line numbers for Graco (GGG) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values. zacks.com - 3 weeks ago
Graco Inc. (GGG) Q3 Earnings and Revenues Lag Estimates Graco Inc. (GGG) came out with quarterly earnings of $0.71 per share, missing the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $0.76 per share a year ago. zacks.com - 3 weeks ago
Ahead of Graco (GGG) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics Beyond analysts' top -and-bottom-line estimates for Graco (GGG), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024. zacks.com - 3 weeks ago
Ex-Dividend Reminder: Caterpillar, Graco And Costamare On 10/21/24, Caterpillar, Graco and Costamare will all trade ex-dividend for their respective upcoming dividends. Caterpillar will pay its quarterly dividend of $1.41 on 11/20/24, Graco will pay its quarterly dividend of $0.255 on 11/6/24, and Costamare will pay its quarterly dividend of $0.115 on 11/6/24. forbes.com - 1 month ago
Newell Brands and Kidsy Announce Partnership to Divert Graco® and Baby Jogger® Returns from Landfills Newell Brands Makes Pivotal Commitment to Sustainability through Kidsy's Recommerce Platform CHICAGO , Oct. 9, 2024 /PRNewswire/ -- Newell Brands (NASDAQ: NWL), a global leader in consumer goods and home to iconic baby brands like Graco® and Baby Jogger®, is partnering with Kidsy , a leading recommerce platform for children's products at a discount, to support sustainability efforts by keeping customer returns and overstock items out of landfills. Now, customers can find products from Graco® and Baby Jogger® on Kidsy—such as open-box or overstock—where they will be resold to families at reduced prices. prnewswire.com - 1 month ago
Here's Why You Should Avoid Investing in Graco Stock Right Now Weakness in the sealants and adhesives business and increasing operating costs weigh on GGG. Unfavorable foreign currency movement is an added concern. zacks.com - 1 month ago
Dividend Increases: 5 Potential Payout Hikes For Q4 2024 Let's talk about companies that are serious about dividend hikes. I'm talking about recent payout raises of 25%, 67% and even 120%. forbes.com - 1 month ago
Graco Inc. Announces Third Quarter 2024 Earnings Conference Call MINNEAPOLIS--(BUSINESS WIRE)--Graco Inc. (NYSE: GGG) announced today that it will release its Third Quarter 2024 earnings after the New York Stock Exchange closes on Wednesday, October 23, 2024. A full-text copy of the earnings announcement will be available on the Company's website at investors.graco.com. Graco management will hold a conference call, including slides via webcast, with analysts and institutional investors to discuss the results at 11 a.m. ET / 10 a.m. CT on Thursday, October 24. businesswire.com - 1 month ago
8. Profile Summary

Graco Inc. GGG

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COUNTRY US
INDUSTRY Industrial - Machinery
MARKET CAP $ 15.1 B
Dividend Yield 0.29%
Description Graco Inc. designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions. It also provides liquid finishing equipment; paint circulating and supply pumps; paint circulating advanced control systems; plural component coating proportioners; spare parts and accessories; and powder finishing products to coat powder finishing on metals under the Gema and SAT brands. The company's Process segment offers pumps to move and dispense chemicals, water, wastewater, petroleum, food, lubricants, and other fluids; pressure valves used in the oil and natural gas industry, other industrial processes, and research facilities; and chemical injection pumping solutions for injection of chemicals into producing oil wells and pipelines. It also supplies pumps, hose reels, meters, valves, and accessories for fast oil change facilities, service garages, fleet service centers, automobile dealerships, auto parts stores, truck builders, and heavy equipment service centers; and systems, components, and accessories for the automatic lubrication of bearings, gears, and generators in industrial and commercial equipment, compressors, turbines, and on- and off-road vehicles. The company's Contractor segment offers sprayers to apply paint to walls and other structures; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors. It sells its products through distributors, original equipment manufacturers, and home center channels; and directly to end-users. The company was incorporated in 1926 and is headquartered in Minneapolis, Minnesota.
Contact 88-11th Avenue Northeast, Minneapolis, MN, 55413 https://www.graco.com
IPO Date March 17, 1980
Employees 4000
Officers Mr. Joseph J. Humke Executive Vice President, General Counsel & Corporate Secretary Ms. Laura L. Evanson Executive Vice President of Marketing Ms. Angela F. Wordell Executive Vice President of Operations Mr. Inge Grasdal Executive Vice President of Corporate Development Mr. Mark W. Sheahan J.D. President, Chief Executive Officer & Director Mr. Christopher D. Knutson Executive Vice President, Corporate Controller & Principal Accounting Officer Mr. David M. Lowe Chief Financial Officer & Treasurer Ms. Kathryn L. Schoenrock Executive Vice President & Chief Information Officer Mr. Dale D. Johnson Chief Commercial Development Officer Ms. Caroline M. Chambers President of EMEA