B. Metzler seel. Sohn & Co. AG bought a new position in shares of Graco Inc. (NYSE:GGG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 13,523 shares of the industrial products company's stock, valued at approximately $1,022,000.
Other hedge funds have also modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its position in shares of Graco by 0.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company's stock worth $1,745,000 after purchasing an additional 109 shares in the last quarter. Stonebridge Capital Advisors LLC increased its position in shares of Graco by 0.3% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company's stock valued at $3,562,000 after buying an additional 119 shares in the last quarter. ICW Investment Advisors LLC raised its stake in Graco by 5.2% during the 2nd quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company's stock worth $234,000 after buying an additional 135 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Graco by 5.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company's stock worth $231,000 after buying an additional 139 shares during the period. Finally, Root Financial Partners LLC lifted its holdings in Graco by 43.2% during the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company's stock worth $43,000 after acquiring an additional 152 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on GGG shares. DA Davidson restated a "neutral" rating and issued a $85.00 price target on shares of Graco in a report on Monday, July 27th. Robert W. Baird set a $94.00 price objective on Graco in a report on Friday, July 24th. Royal Bank Of Canada boosted their price objective on Graco from $92.00 to $96.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Wolfe Research cut Graco from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Graco from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Graco has an average rating of "Hold" and a consensus target price of $95.00.
View Our Latest Stock Report on Graco
Graco Stock Performance
NYSE GGG opened at $80.82 on Monday. The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 2.48 and a beta of 0.92. The stock's 50 day moving average price is $77.79 and its two-hundred day moving average price is $81.98. Graco Inc. has a 52 week low of $72.51 and a 52 week high of $95.69.
Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.10. The company had revenue of $590.55 million during the quarter, compared to analysts' expectations of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. On average, equities research analysts forecast that Graco Inc. will post 3.26 EPS for the current year.
Graco Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were paid a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, July 20th. Graco's payout ratio is presently 37.11%.
About Graco
(
Free Report)
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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