Entropy Technologies LP Boosts Position in Graco Inc. (NYSE:GGG)

Key Points

• Entropy Technologies LP increased its stake in Graco Inc. by 59.4%, bringing its total holdings to 16,677 shares valued at approximately $1.39 million.
• Graco's recent quarterly earnings reported an EPS of $0.75, which fell short of analysts' expectations, with revenue totaling $571.81 million.
• The company declared a quarterly dividend of $0.275 per share, reflecting an annualized dividend yield of 1.3% and a payout ratio currently at 39.01%.

Entropy Technologies LP grew its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 59.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,677 shares of the industrial products company's stock after purchasing an additional 6,216 shares during the period. Entropy Technologies LP's holdings in Graco were worth $1,393,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GGG. Bessemer Group Inc. boosted its stake in Graco by 149.5% during the first quarter. Bessemer Group Inc. now owns 4,992 shares of the industrial products company's stock worth $416,000 after acquiring an additional 2,991 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Graco by 13.8% during the first quarter. Asset Management One Co. Ltd. now owns 70,117 shares of the industrial products company's stock worth $5,855,000 after acquiring an additional 8,490 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Graco during the first quarter worth about $2,335,000. Farther Finance Advisors LLC boosted its stake in Graco by 150.6% during the first quarter. Farther Finance Advisors LLC now owns 7,998 shares of the industrial products company's stock worth $675,000 after acquiring an additional 4,806 shares in the last quarter. Finally, Novem Group boosted its stake in Graco by 34.5% during the first quarter. Novem Group now owns 11,900 shares of the industrial products company's stock worth $994,000 after acquiring an additional 3,052 shares in the last quarter. Institutional investors own 93.88% of the company's stock.

Graco Stock Down 0.9%

Shares of NYSE GGG traded down $0.81 during midday trading on Friday, hitting $84.48. The stock had a trading volume of 498,311 shares, compared to its average volume of 802,690. The business's 50 day moving average is $85.65 and its 200-day moving average is $84.11. The company has a market cap of $14.00 billion, a P/E ratio of 29.96, a PEG ratio of 2.88 and a beta of 1.04. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86.

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 the consensus estimate of $0.78 by ($0.03). The firm 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 quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. As a group, analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 21st were given a dividend of $0.275 per share. The ex-dividend date was Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Graco's dividend payout ratio is currently 39.01%.

Analyst Ratings Changes

GGG has been the topic of several research reports. Robert W. Baird boosted their price objective on shares of Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Wolfe Research began coverage on shares of Graco in a report on Wednesday, June 18th. They issued an "outperform" rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $94.50.

About Graco

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.