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Graco introduces New SaniSpray HP
Airless Sprayers
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Graco Inc.'s (NYSE:GGG) market capitalization of $9.69 is among the highest market caps amongst the mid-cap category. In the last five years, the company's share price has increased by 160% and over the past three months, it is up 23%. Graco shareholders have received a total return of 27% over the last 12 months which includes dividends. The gain is better than the yearly TSR in the past five years that is around 23%. Considering the positive sentiment around the stock of late and given the strong share price momentum the stock holds a huge opportunity.
The fluid handling equipment manufacturer has introduced new SaniSpray HP airless sprayers. The SaniSpray HP Sprayers are built with high-grade materials compatible with List-N disinfectants.
Packaging Corp Of America Reports Sales Of $1.542 billion in Q2 2020
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Packaging Corp Of America (NYSE:PKG) has a market cap of $9.68 billion which is among the highest in the mid-cap category. The company has approved a dividend of $0.79 per common share for the quarter payable to shareholders on October 15, 2020, for those that shall be on record as of September 15, 2020.
The company is among the largest containerboard product and uncoated freesheet paper producers in North America. For the quarter ended June, the company saw a 12.4% decline in YOY sales to $1.542 billion missing ion consensus estimates of $1.672 billion. The company ended the quarter with cash of $853.3 million but has not issued guidance for Q3 2020 because of uncertainty caused by the pandemic.
Allegion PLC Reports 19.4% YoY Drop In Revenue in Q2 2020
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Another stock with one of the highest market capitalizations in the mid-cap category is Allegion PLC (NYSE:ALLE) whose market cap is $9.52 billion. The company has reported its Q2 2020 results in which it saw a 19.4% drop in revenue to $589.5 million missing consensus estimates of $600 million. Gross profit dropped 23.1% to around $246.6 million as cost of sales also dropped 16.5% YoY to $342.9 million.
At the end of the quarter, the company has cash and cash equivalents of $302.4 million and long term debt of $1.4275 billion. Net cash from operating generated in the 1H 2020 was $128 million. For 2020 the company expects earnings per share of $4.15 to $4.30.
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COMTEX_370622622/2700/2020-09-03T06:26:01
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