Planning Alternatives Ltd. ADV maintained its position in Graco Inc. (NYSE:GGG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,190 shares of the industrial products company’s stock at the end of the second quarter. Planning Alternatives Ltd. ADV’s holdings in Graco were worth $676,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of GGG. Creative Planning raised its stake in shares of Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock worth $141,000 after buying an additional 76 shares during the period. Mosaic Family Wealth LLC raised its stake in shares of Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock worth $168,000 after buying an additional 62 shares during the period. TLP Group LLC bought a new stake in shares of Graco during the first quarter worth about $193,000. Canada Pension Plan Investment Board raised its stake in shares of Graco by 425.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock worth $198,000 after buying an additional 1,700 shares during the period. Finally, Park National Corp OH bought a new stake in shares of Graco during the first quarter worth about $203,000. 90.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Graco Inc. (NYSE GGG) opened at 113.62 on Friday. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 72.09 and a beta of 1.25. The company has a 50 day moving average of $110.30 and a 200 day moving average of $101.08. Graco Inc. has a 1-year low of $69.33 and a 1-year high of $116.75.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The company had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that Graco Inc. will post $4.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, July 13th. Graco’s dividend payout ratio is 92.90%.
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A number of brokerages have issued reports on GGG. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research note on Monday. Wolfe Research reissued a “market perform” rating on shares of Graco in a research note on Tuesday. Royal Bank Of Canada reissued a “hold” rating on shares of Graco in a research note on Friday, July 28th. Deutsche Bank AG reissued a “hold” rating and set a $110.00 target price (up previously from $105.00) on shares of Graco in a research note on Monday, June 5th. Finally, BidaskClub lowered shares of Graco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $106.20.
In related news, Director Eric Etchart sold 793 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $113.90, for a total transaction of $90,322.70. Following the completion of the transaction, the director now owns 11,224 shares in the company, valued at $1,278,413.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Caroline M. Chambers sold 5,000 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $109.45, for a total transaction of $547,250.00. Following the transaction, the vice president now owns 10,159 shares of the company’s stock, valued at approximately $1,111,902.55. The disclosure for this sale can be found here. Insiders have sold 164,021 shares of company stock valued at $10,331,434 in the last three months. 5.70% of the stock is owned by insiders.
About Graco
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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