Evergreen Capital Management LLC Buys 17,211 Shares of Graco Inc. $GGG

Evergreen Capital Management LLC increased its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 283.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 23,275 shares of the industrial products company's stock after purchasing an additional 17,211 shares during the period. Evergreen Capital Management LLC's holdings in Graco were worth $1,788,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GGG. BlackRock Inc. purchased a new position in Graco during the 2nd quarter valued at about $1,396,470,000. Amundi increased its position in shares of Graco by 7.5% during the second quarter. Amundi now owns 2,090,184 shares of the industrial products company's stock valued at $158,039,000 after buying an additional 146,032 shares during the period. Caisse de depot et placement du Quebec bought a new stake in shares of Graco during the second quarter valued at about $141,667,000. First Trust Advisors LP increased its position in shares of Graco by 4.2% during the first quarter. First Trust Advisors LP now owns 1,535,923 shares of the industrial products company's stock valued at $130,016,000 after buying an additional 61,706 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Graco by 51.8% in the first quarter. Hsbc Holdings PLC now owns 1,194,254 shares of the industrial products company's stock worth $101,061,000 after buying an additional 407,557 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Stock Performance

Shares of GGG opened at $66.05 on Tuesday. The company has a market cap of $10.59 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.07 and a beta of 0.89. The company has a current ratio of 2.12, a quick ratio of 1.24 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $77.98 and a 200-day moving average price of $81.42. Graco Inc. has a 12-month low of $65.96 and a 12-month high of $95.69.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.02). The business had revenue of $586.39 million for the quarter, compared to analysts' expectations of $590.17 million. Graco had a return on equity of 20.13% and a net margin of 22.40%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. As a group, equities analysts forecast that Graco Inc. will post 3.24 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Monday, October 19th will be paid a $0.2950 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, October 19th. Graco's dividend payout ratio (DPR) is currently 37.94%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GGG shares. BNP Paribas Exane cut their price objective on shares of Graco from $95.00 to $85.00 and set an "outperform" rating for the company in a research report on Friday. Wolfe Research cut shares of Graco from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. DA Davidson reaffirmed a "neutral" rating and set a $85.00 target price on shares of Graco in a report on Monday, July 27th. Weiss Ratings upgraded shares of Graco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $82.00 target price (down from $95.00) on shares of Graco in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $87.40.

Graco Profile

Graco Inc is a global manufacturer of equipment used to move, measure, control, dispense and apply fluids and other materials. Its products are used in industrial, commercial and residential applications involving paints, coatings, sealants, adhesives, lubricants, chemicals and other fluids.

The company's product portfolio includes pumps, valves, meters, regulators, fluid-management systems, lubrication equipment, spray-applied coating and finishing systems, sealant and adhesive equipment, and contractor-oriented painting and texture application tools.

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