Arbejdsmarkedets Tillaegspension Purchases New Holdings in Graco Inc. $GGG

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new first-quarter stake in Graco, buying 175,307 shares valued at about $14.84 million and ending with 0.11% ownership.
• Graco reported Q1 earnings and revenue below analyst expectations, posting $0.66 EPS versus the $0.75 consensus and revenue of $540.14 million versus expectations of $561.35 million.
• The company also announced a quarterly dividend of $0.295 per share, payable August 5, for an annualized yield of about 1.6%; meanwhile, analysts currently rate the stock a consensus Hold.

Arbejdsmarkedets Tillaegspension purchased a new position in shares of Graco Inc. (NYSE:GGG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 175,307 shares of the industrial products company's stock, valued at approximately $14,840,000. Arbejdsmarkedets Tillaegspension owned 0.11% of Graco at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Goldman Sachs Group Inc. raised its holdings in shares of Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company's stock worth $27,592,000 after purchasing an additional 44,573 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock valued at $42,000 after buying an additional 452 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Graco by 97.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company's stock valued at $152,000 after buying an additional 870 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Graco by 559.5% during the 2nd quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company's stock valued at $9,293,000 after buying an additional 91,708 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Graco by 4.2% during the 2nd quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company's stock worth $1,830,000 after acquiring an additional 852 shares during the period. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Stock Performance

GGG stock opened at $73.85 on Tuesday. The company has a market capitalization of $12.26 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 2.38 and a beta of 0.93. Graco Inc. has a one year low of $72.51 and a one year high of $95.69. The company's 50 day moving average price is $75.53 and its two-hundred day moving average price is $83.15.

Graco (NYSE:GGG - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The business had revenue of $540.14 million during the quarter, compared to analysts' expectations of $561.35 million. During the same quarter in the previous year, the business earned $0.70 EPS. Graco's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts predict that Graco Inc. will post 3.1 EPS for the current year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, July 20th. Graco's payout ratio is currently 38.44%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GGG. Robert W. Baird decreased their price objective on Graco from $96.00 to $92.00 and set a "neutral" rating for the company in a report on Friday, April 24th. DA Davidson reissued a "neutral" rating and set a $85.00 target price on shares of Graco in a report on Monday, April 27th. Wolfe Research downgraded Graco from an "outperform" rating to a "peer perform" rating in a research note on Thursday. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $95.00 target price on shares of Graco in a report on Friday, April 24th. Finally, Weiss Ratings cut shares of Graco from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, June 5th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Graco presently has an average rating of "Hold" and a consensus target price of $94.25.

Insider Transactions at Graco

In related news, Director Andrea Helen Simon bought 1,240 shares of the business's stock in a transaction dated Monday, April 27th. The shares were purchased at an average price of $80.53 per share, with a total value of $99,857.20. Following the purchase, the director owned 1,240 shares of the company's stock, valued at approximately $99,857.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.18% of the company's stock.

Graco Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco's solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company's product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.

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