Fox Run Management L.L.C. Invests $746,000 in Graco Inc. $GGG

Key Points

• Fox Run Management L.L.C. has invested approximately $746,000 in Graco Inc., acquiring 8,937 shares in the first quarter.
• Graco reported a quarterly earnings per share of $0.75, missing the consensus estimate of $0.78, with a revenue of $571.81 million.
• Graco's recent quarterly dividend was $0.275 per share, with a yield of 1.3% and a dividend payout ratio of 39.01%.

Fox Run Management L.L.C. acquired a new stake in Graco Inc. (NYSE:GGG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,937 shares of the industrial products company's stock, valued at approximately $746,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wood Tarver Financial Group LLC purchased a new position in shares of Graco during the 4th quarter valued at $46,000. Golden State Wealth Management LLC lifted its holdings in Graco by 128.9% during the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 388 shares during the last quarter. National Pension Service boosted its position in Graco by 74.8% during the first quarter. National Pension Service now owns 699 shares of the industrial products company's stock worth $58,000 after purchasing an additional 299 shares during the period. USA Financial Formulas increased its stake in shares of Graco by 43.6% in the first quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock worth $88,000 after purchasing an additional 321 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Graco in the first quarter worth about $96,000. 93.88% of the stock is owned by institutional investors.

Graco Stock Up 3.8%

Shares of NYSE GGG traded up $3.26 during mid-day trading on Friday, reaching $87.94. 152,760 shares of the company were exchanged, compared to its average volume of 816,821. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The company's 50 day moving average price is $85.64 and its 200 day moving average price is $84.16. The stock has a market capitalization of $14.57 billion, a PE ratio of 31.17, a PEG ratio of 2.88 and a beta of 1.04.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly 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 for 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.77 EPS. On average, sell-side analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. Graco's dividend payout ratio (DPR) is 39.01%.

Analysts Set New Price Targets

Several research analysts recently commented on GGG shares. Robert W. Baird raised their price objective on shares of Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Wolfe Research started coverage on Graco in a research report on Wednesday, June 18th. They set an "outperform" rating on the stock. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $94.50.

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.