Fuller & Thaler Asset Management Inc. Buys 28,730 Shares of Graco Inc. $GGG

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Graco Inc. by 101.9%, holding 56,928 shares valued at $4,754,000 after buying 28,730 additional shares in the first quarter.
• Graco reported $0.75 earnings per share for the latest quarter, missing estimates by $0.03, with revenues of $571.81 million compared to expected $590.57 million.
• The company recently announced a quarterly dividend of $0.275 per share, indicating an annualized dividend of $1.10 and a dividend yield of 1.3%.

Fuller & Thaler Asset Management Inc. boosted its stake in Graco Inc. (NYSE:GGG - Free Report) by 101.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,928 shares of the industrial products company's stock after purchasing an additional 28,730 shares during the period. Fuller & Thaler Asset Management Inc.'s holdings in Graco were worth $4,754,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Wood Tarver Financial Group LLC bought a new position in shares of Graco during the fourth quarter valued at $46,000. Golden State Wealth Management LLC raised its stake in shares of 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 acquiring an additional 388 shares during the last quarter. National Pension Service raised its stake in shares of Graco by 74.8% during the first quarter. National Pension Service now owns 699 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 299 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Graco by 92.6% during the first quarter. Brooklyn Investment Group now owns 932 shares of the industrial products company's stock valued at $78,000 after acquiring an additional 448 shares during the last quarter. Finally, USA Financial Formulas raised its stake in shares of Graco by 43.6% during the first quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock valued at $88,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 93.88% of the company's stock.

Graco Stock Down 1.1%

GGG opened at $85.2970 on Thursday. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86. The company has a fifty day moving average of $85.65 and a 200-day moving average of $84.15. The stock has a market cap of $14.13 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 2.91 and a beta of 1.04.

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 the consensus estimate of $0.78 by ($0.03). Graco had a return on equity of 19.05% and a net margin of 22.26%.The firm had revenue of $571.81 million for the quarter, compared to analyst estimates of $590.57 million. During the same quarter last year, the company earned $0.77 earnings per share. The company's quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders 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 annualized dividend and a dividend yield of 1.3%. Graco's dividend payout ratio is 39.01%.

Analyst Upgrades and Downgrades

GGG has been the subject of several analyst reports. Robert W. Baird raised their price target on shares of Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Wolfe Research initiated coverage on shares of Graco in a research note on Wednesday, June 18th. They set an "outperform" rating for the company. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.

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