HM Payson & Co. purchased a new position in shares of Graco Inc. (NYSE:GGG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,900 shares of the industrial products company’s stock, valued at approximately $207,000.
A number of other hedge funds and other institutional investors have also modified their holdings of GGG. BB&T Securities LLC boosted its position in shares of Graco by 0.5% in the second quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock valued at $757,000 after buying an additional 36 shares during the period. WCM Investment Management CA boosted its position in shares of Graco by 2.1% in the second quarter. WCM Investment Management CA now owns 3,695 shares of the industrial products company’s stock valued at $404,000 after buying an additional 75 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Graco by 68.5% in the second quarter. BNP Paribas Arbitrage SA now owns 20,996 shares of the industrial products company’s stock valued at $2,294,000 after buying an additional 8,533 shares during the period. Legal & General Group Plc boosted its position in shares of Graco by 18.0% in the second quarter. Legal & General Group Plc now owns 52,695 shares of the industrial products company’s stock valued at $5,759,000 after buying an additional 8,054 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Graco by 93.5% in the second quarter. SG Americas Securities LLC now owns 23,464 shares of the industrial products company’s stock valued at $2,564,000 after buying an additional 11,338 shares during the period. 90.10% of the stock is owned by institutional investors.
Graco Inc. (NYSE:GGG) opened at 113.97 on Wednesday. Graco Inc. has a one year low of $69.33 and a one year high of $116.75. The stock has a market capitalization of $6.38 billion, a PE ratio of 72.32 and a beta of 1.25. The firm has a 50-day moving average of $111.40 and a 200 day moving average of $103.62.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The company had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. During the same quarter in the previous year, the business earned $0.89 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities research analysts anticipate that Graco Inc. will post $4.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Thursday, July 13th. Graco’s dividend payout ratio is currently 92.90%.
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Several brokerages have issued reports on GGG. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $104.00 target price on shares of Graco in a report on Monday, June 5th. BidaskClub raised shares of Graco from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Wolfe Research reaffirmed a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. 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 report on Monday, July 31st. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $110.00 target price (up from $105.00) on shares of Graco in a report on Monday, June 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $106.20.
In other Graco news, Director Eric Etchart sold 793 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $113.90, for a total value of $90,322.70. Following the completion of the sale, the director now owns 11,224 shares in the company, valued at $1,278,413.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Peter J. O’shea sold 15,986 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $113.50, for a total value of $1,814,411.00. Following the completion of the sale, the vice president now owns 20,638 shares of the company’s stock, valued at approximately $2,342,413. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,021 shares of company stock valued at $6,483,384. 5.70% of the stock is owned by company 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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