6,104 Shares in Graco Inc. (NYSE:GGG) Bought by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP acquired 6,104 shares of Graco Inc. (NYSE:GGG), valued at approximately $510,000, marking a significant investment during Q1.
• Graco reported Q2 earnings of $0.75 EPS, missing estimates, with revenues of $571.81 million, which was below analysts’ expectations of $590.57 million.
• The company has announced a quarterly dividend of $0.275, representing an annual yield of 1.3% and a payout ratio of 39.01%.

Aigen Investment Management LP bought a new position in Graco Inc. (NYSE:GGG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,104 shares of the industrial products company's stock, valued at approximately $510,000.

Other large investors have also recently modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new position in shares of Graco in the fourth quarter worth about $46,000. Golden State Wealth Management LLC increased its stake in shares of Graco by 128.9% in the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock worth $58,000 after purchasing an additional 388 shares in the last quarter. USA Financial Formulas increased its stake in shares of Graco by 43.6% in the first quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock worth $88,000 after purchasing an additional 321 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new position in shares of Graco in the first quarter worth about $140,000. Finally, Fifth Third Bancorp increased its stake in shares of Graco by 21.1% in the first quarter. Fifth Third Bancorp now owns 1,834 shares of the industrial products company's stock worth $153,000 after purchasing an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Trading Down 0.9%

Shares of GGG stock traded down $0.81 during trading hours on Friday, reaching $84.48. The stock had a trading volume of 498,311 shares, compared to its average volume of 802,690. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86. The firm has a market capitalization of $14.00 billion, a PE ratio of 29.96, a PEG ratio of 2.88 and a beta of 1.04. The stock's fifty day simple moving average is $85.65 and its 200 day simple moving average is $84.11.

Graco (NYSE:GGG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The company had revenue of $571.81 million for the quarter, compared to the consensus estimate of $590.57 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, July 21st. Graco's payout ratio is presently 39.01%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Wolfe Research assumed coverage on shares of Graco in a research report on Wednesday, June 18th. They issued an "outperform" rating for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Graco has an average rating of "Moderate Buy" and a consensus target price of $94.50.

About Graco

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.