Cresset Asset Management LLC Reduces Position in Graco Inc. (NYSE:GGG)

Cresset Asset Management LLC lessened its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 44.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,318 shares of the industrial products company's stock after selling 6,670 shares during the period. Cresset Asset Management LLC's holdings in Graco were worth $701,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GGG. Elevated Capital Advisors LLC grew its position in Graco by 49.9% during the 4th quarter. Elevated Capital Advisors LLC now owns 3,546 shares of the industrial products company's stock worth $299,000 after purchasing an additional 1,181 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Graco by 4.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 199,229 shares of the industrial products company's stock valued at $16,793,000 after acquiring an additional 8,352 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Graco in the 4th quarter valued at $254,000. Outlook Wealth Advisors LLC boosted its holdings in shares of Graco by 19.2% in the 4th quarter. Outlook Wealth Advisors LLC now owns 4,783 shares of the industrial products company's stock valued at $403,000 after acquiring an additional 769 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Graco by 24.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 11,939 shares of the industrial products company's stock valued at $1,006,000 after acquiring an additional 2,328 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Price Performance

GGG opened at $85.79 on Wednesday. The firm has a fifty day moving average price of $81.58 and a 200 day moving average price of $84.50. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86. The stock has a market cap of $14.34 billion, a P/E ratio of 30.42, a P/E/G ratio of 2.85 and a beta of 1.09.

Graco (NYSE:GGG - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Graco had a net margin of 23.00% and a return on equity of 19.38%. The firm had revenue of $528.28 million during the quarter, compared to analysts' expectations of $526.98 million. During the same period in the previous year, the business posted $0.65 EPS. The business's revenue was up 7.3% compared to the same quarter last year. Equities analysts expect that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Monday, April 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Monday, April 14th. Graco's dividend payout ratio is currently 38.87%.

Analysts Set New Price Targets

Separately, DA Davidson set a $85.00 price objective on shares of Graco in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $93.00.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.