Boyum Wealth Architects LLC Purchases Shares of 13,905 Graco Inc. $GGG

Key Points

• Boyum Wealth Architects LLC has acquired a new stake in Graco Inc., purchasing 13,905 shares valued at approximately $1,195,000, making it the fund's 22nd largest position.
• Graco recently declared a $0.275 quarterly dividend to be paid on November 5th, representing a dividend yield of 1.3% with a payout ratio of 39.01%.
• Analysts have set a consensus price target of $94.50 for Graco, with three analysts rating the stock as a Buy and indicating a generally positive outlook.

Boyum Wealth Architects LLC purchased a new stake in Graco Inc. (NYSE:GGG - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 13,905 shares of the industrial products company's stock, valued at approximately $1,195,000. Graco comprises about 0.9% of Boyum Wealth Architects LLC's portfolio, making the stock its 22nd largest position.

Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its holdings in Graco by 149.5% in the 1st quarter. Bessemer Group Inc. now owns 4,992 shares of the industrial products company's stock valued at $416,000 after acquiring an additional 2,991 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Graco by 13.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 70,117 shares of the industrial products company's stock valued at $5,855,000 after acquiring an additional 8,490 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Graco in the 1st quarter valued at $2,335,000. Farther Finance Advisors LLC raised its holdings in Graco by 150.6% in the 1st quarter. Farther Finance Advisors LLC now owns 7,998 shares of the industrial products company's stock valued at $675,000 after acquiring an additional 4,806 shares during the last quarter. Finally, Novem Group raised its holdings in Graco by 34.5% in the 1st quarter. Novem Group now owns 11,900 shares of the industrial products company's stock valued at $994,000 after acquiring an additional 3,052 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Robert W. Baird boosted their price target on Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Wolfe Research initiated coverage on Graco in a report on Wednesday, June 18th. They set an "outperform" rating for the company. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.50.

Graco Price Performance

NYSE:GGG opened at $84.77 on Tuesday. The firm has a 50-day moving average of $85.55 and a two-hundred day moving average of $84.11. The stock has a market cap of $14.05 billion, a P/E ratio of 30.06, a PEG ratio of 2.85 and a beta of 1.03. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.86.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $590.57 million. During the same period in the previous year, the company earned $0.77 earnings per share. The business's quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Monday, October 20th will be given a dividend of $0.275 per share. 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 presently 39.01%.

Graco Company 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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