Boyum Wealth Architects LLC Takes Position in 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 shares of Graco Inc. (NYSE:GGG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,905 shares of the industrial products company's stock, valued at approximately $1,195,000. Graco accounts for approximately 0.9% of Boyum Wealth Architects LLC's investment portfolio, making the stock its 22nd largest holding.

Other institutional investors have also made changes to their positions in the company. OMERS ADMINISTRATION Corp grew its position in Graco by 13.7% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 7,556 shares of the industrial products company's stock worth $637,000 after acquiring an additional 911 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Graco by 54.1% in the fourth quarter. Quantinno Capital Management LP now owns 35,335 shares of the industrial products company's stock worth $2,978,000 after purchasing an additional 12,412 shares during the last quarter. Royal Bank of Canada boosted its position in Graco by 7.5% during the 4th quarter. Royal Bank of Canada now owns 326,104 shares of the industrial products company's stock valued at $27,487,000 after acquiring an additional 22,737 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in Graco in the 4th quarter worth approximately $218,000. Finally, Siemens Fonds Invest GmbH bought a new stake in shares of Graco during the 4th quarter valued at $216,000. 93.88% of the stock is owned by institutional investors.

Graco Price Performance

Shares of NYSE:GGG traded down $0.38 during mid-day trading on Friday, reaching $84.66. 1,886,139 shares of the company were exchanged, compared to its average volume of 581,303. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86. The firm's 50-day simple moving average is $85.27 and its 200 day simple moving average is $84.12. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of 30.02, a P/E/G ratio of 2.87 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). The firm had revenue of $571.81 million during the quarter, compared to analysts' expectations of $590.57 million. Graco had a net margin of 22.26% and a return on equity of 19.05%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. On average, research analysts forecast that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on GGG. Wolfe Research began coverage on shares of Graco in a research report on Wednesday, June 18th. They set an "outperform" rating on the stock. Robert W. Baird increased their target price on shares of Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently 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.