Ascent Group LLC Has $2.74 Million Stock Position in Graco Inc. $GGG

Key Points

• Ascent Group LLC has reduced its stake in Graco Inc. by 19.2% during the 2nd quarter, now holding shares valued at approximately $2.74 million.
• Graco's quarterly earnings report showed a net margin of 22.26% with earnings per share of $0.75, missing analyst expectations by $0.03.
• The company has announced a quarterly dividend of $0.275, which will be paid on November 5th, representing an annualized yield of 1.3%.

Ascent Group LLC reduced its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 19.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 31,809 shares of the industrial products company's stock after selling 7,580 shares during the period. Ascent Group LLC's holdings in Graco were worth $2,735,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. eCIO Inc. acquired a new stake in Graco during the 1st quarter worth approximately $32,000. WPG Advisers LLC acquired a new stake in Graco during the 1st quarter worth approximately $41,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Graco by 41.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company's stock worth $41,000 after buying an additional 141 shares during the period. Geneos Wealth Management Inc. raised its holdings in Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock worth $42,000 after buying an additional 452 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings 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 valued at $58,000 after purchasing an additional 388 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Trading Down 0.1%

NYSE:GGG opened at $84.75 on Friday. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.86. The firm has a fifty day simple moving average of $84.89 and a 200 day simple moving average of $84.10. The stock has a market capitalization of $14.04 billion, a PE ratio of 30.05, a P/E/G ratio of 2.86 and a beta of 1.07.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share 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 firm had revenue of $571.81 million during the quarter, compared to the consensus estimate of $590.57 million. During the same period in the prior year, the business posted $0.77 earnings per share. Graco's quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Monday, October 20th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. Graco's dividend payout ratio (DPR) is currently 39.01%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GGG shares. Wolfe Research started coverage on shares of Graco in a report on Wednesday, June 18th. They issued an "outperform" rating on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Graco in a report on Saturday, September 27th. Finally, Robert W. Baird lifted their price objective on shares of Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.50.

Graco 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.

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