27,965 Shares in Graco Inc. (NYSE:GGG) Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC acquired a new position in Graco Inc. (NYSE:GGG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 27,965 shares of the industrial products company's stock, valued at approximately $2,335,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its holdings in Graco by 128.9% in the 1st quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock worth $58,000 after acquiring an additional 388 shares in the last quarter. Bessemer Group Inc. raised its stake in Graco by 149.5% in the 1st quarter. Bessemer Group Inc. now owns 4,992 shares of the industrial products company's stock valued at $416,000 after purchasing an additional 2,991 shares during the last quarter. Aurora Private Wealth Inc. purchased a new position in Graco in the 1st quarter valued at $993,000. Lecap Asset Management Ltd. acquired a new stake in Graco during the 1st quarter worth $1,900,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Graco by 13.8% during the first quarter. Asset Management One Co. Ltd. now owns 70,117 shares of the industrial products company's stock worth $5,855,000 after buying an additional 8,490 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Trading Up 0.7%

GGG stock traded up $0.59 during trading on Wednesday, reaching $88.26. 236,977 shares of the stock were exchanged, compared to its average volume of 799,272. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 2.91 and a beta of 1.06. The business has a 50 day moving average price of $84.24 and a 200-day moving average price of $83.75. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Graco had a return on equity of 19.42% and a net margin of 22.70%. The company had revenue of $528.28 million during the quarter, compared to analyst estimates of $526.98 million. During the same period in the prior year, the business posted $0.65 earnings per share. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, July 21st will be issued a $0.275 dividend. The ex-dividend date is Monday, July 21st. This represents a $1.10 annualized dividend and a yield of 1.25%. Graco's dividend payout ratio (DPR) is currently 38.87%.

Insider Buying and Selling

In other Graco news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the sale, the insider directly owned 27,520 shares in the company, valued at $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Wolfe Research started coverage on shares of Graco in a research note on Wednesday, June 18th. They set an "outperform" rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.