Capital Management Associates Inc Cuts Holdings in Graco Inc. $GGG

Key Points

• Capital Management Associates Inc reduced its holdings in Graco Inc. by 50% during the second quarter, owning 11,401 shares valued at $980,000 after the sale.
• The company missed earnings estimates for the most recent quarter, reporting $0.75 EPS compared to the expected $0.78, along with revenue of $571.81 million versus the anticipated $590.57 million.
• Graco Inc. has announced a quarterly dividend of $0.275, set to be paid on November 5th, with a current yield of 1.3% and a dividend payout ratio of 39.01%.

Capital Management Associates Inc reduced its position in Graco Inc. (NYSE:GGG - Free Report) by 50.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,401 shares of the industrial products company's stock after selling 11,401 shares during the quarter. Capital Management Associates Inc's holdings in Graco were worth $980,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Graco by 149.5% in the first quarter. Bessemer Group Inc. now owns 4,992 shares of the industrial products company's stock valued at $416,000 after purchasing an additional 2,991 shares during the period. Asset Management One Co. Ltd. raised its position in Graco by 13.8% in the first quarter. Asset Management One Co. Ltd. now owns 70,117 shares of the industrial products company's stock valued at $5,855,000 after purchasing an additional 8,490 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Graco in the first quarter valued at about $2,335,000. Farther Finance Advisors LLC raised its position in Graco by 150.6% in the first quarter. Farther Finance Advisors LLC now owns 7,998 shares of the industrial products company's stock valued at $675,000 after purchasing an additional 4,806 shares during the period. Finally, Novem Group raised its position in Graco by 34.5% in the first quarter. Novem Group now owns 11,900 shares of the industrial products company's stock valued at $994,000 after purchasing an additional 3,052 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Performance

NYSE:GGG opened at $83.59 on Thursday. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 2.82 and a beta of 1.07. Graco Inc. has a one year low of $72.06 and a one year high of $92.86. The stock has a 50-day simple moving average of $84.88 and a 200 day simple moving average of $84.12.

Graco (NYSE:GGG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Graco had a return on equity of 19.05% and a net margin of 22.26%.The business 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 earned $0.77 EPS. The business's revenue was up 3.4% on a year-over-year basis. On average, equities research analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

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

Wall Street Analysts Forecast Growth

GGG has been the topic of several research reports. Wolfe Research initiated coverage on Graco in a research report on Wednesday, June 18th. They issued an "outperform" rating on the stock. Robert W. Baird raised their target price on Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Graco in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.