Bayforest Capital Ltd Buys 6,116 Shares of Graco Inc. $GGG

Key Points

• Bayforest Capital Ltd increased its stake in Graco Inc. by 910.1% during the 1st quarter, holding a total of 6,788 shares valued at approximately $567,000.
• Analysts have given Graco an average rating of "Moderate Buy" with a price target of $94.50, influenced by recent upgrades from Wolfe Research and Robert W. Baird.
• Graco reported a miss in earnings for the last quarter with an EPS of $0.75, falling short of expectations and showing a revenue decline compared to analyst estimates.

Bayforest Capital Ltd boosted its holdings in Graco Inc. (NYSE:GGG - Free Report) by 910.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,788 shares of the industrial products company's stock after acquiring an additional 6,116 shares during the quarter. Bayforest Capital Ltd's holdings in Graco were worth $567,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its position in shares of Graco by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 2,390,940 shares of the industrial products company's stock valued at $199,667,000 after purchasing an additional 62,761 shares during the period. Invesco Ltd. increased its position in shares of Graco by 1.6% during the 1st quarter. Invesco Ltd. now owns 1,828,962 shares of the industrial products company's stock valued at $152,737,000 after purchasing an additional 28,795 shares during the period. Amundi increased its position in shares of Graco by 7.2% during the 1st quarter. Amundi now owns 1,797,477 shares of the industrial products company's stock valued at $144,194,000 after purchasing an additional 120,875 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Graco by 12.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,337,457 shares of the industrial products company's stock valued at $111,691,000 after purchasing an additional 146,424 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Graco by 12.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,291,475 shares of the industrial products company's stock valued at $107,851,000 after purchasing an additional 144,134 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Stock Up 0.6%

Shares of NYSE:GGG traded up $0.47 on Monday, reaching $84.91. The company had a trading volume of 187,935 shares, compared to its average volume of 797,029. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86. The stock has a 50-day moving average price of $85.61 and a 200 day moving average price of $84.13. The stock has a market capitalization of $14.07 billion, a P/E ratio of 30.10, a P/E/G ratio of 2.85 and a beta of 1.03.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). The business had revenue of $571.81 million during the quarter, compared to the consensus estimate of $590.57 million. Graco had a return on equity of 19.05% and a net margin of 22.26%.The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. On average, sell-side analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

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

Analyst Ratings Changes

GGG has been the topic of several research analyst reports. Robert W. Baird lifted their price target on Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Wolfe Research initiated coverage on Graco in a report on Wednesday, June 18th. They issued an "outperform" rating on the stock. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.