Graco Inc. $GGG Shares Sold by Quantum Capital Management LLC NJ

Key Points

• Quantum Capital Management LLC NJ reduced its holdings in Graco Inc. by 1.8%, owning approximately 5.3% of their portfolio, making Graco their 9th largest position.
• Graco's latest earnings report revealed earnings per share of $0.75, which fell short of analyst estimates of $0.78, with revenue also below expectations at $571.81 million.
• The company recently announced a quarterly dividend of $0.275, representing a 1.3% yield, with a payout ratio of 39.01%.

Quantum Capital Management LLC NJ reduced its position in Graco Inc. (NYSE:GGG - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 617,929 shares of the industrial products company's stock after selling 11,566 shares during the period. Graco accounts for approximately 5.3% of Quantum Capital Management LLC NJ's investment portfolio, making the stock its 9th largest holding. Quantum Capital Management LLC NJ owned approximately 0.37% of Graco worth $51,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GGG. Fuller & Thaler Asset Management Inc. increased its position in Graco by 101.9% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 56,928 shares of the industrial products company's stock worth $4,754,000 after acquiring an additional 28,730 shares during the period. Quantbot Technologies LP bought a new position in Graco during the 1st quarter worth $9,450,000. Aptus Capital Advisors LLC raised its holdings in Graco by 12.1% in the 1st quarter. Aptus Capital Advisors LLC now owns 82,466 shares of the industrial products company's stock valued at $6,887,000 after acquiring an additional 8,899 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Graco by 92.6% during the 1st 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 period. Finally, Burgundy Asset Management Ltd. lifted its position in shares of Graco by 6.9% during the 1st quarter. Burgundy Asset Management Ltd. now owns 952,011 shares of the industrial products company's stock valued at $79,502,000 after acquiring an additional 61,517 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GGG has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on Graco in a research report on Wednesday, June 18th. They set an "outperform" rating for the company. Robert W. Baird upped their target price on Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $94.50.

Graco Price Performance

GGG traded up $2.6310 during trading on Friday, hitting $87.3110. 556,123 shares of the stock traded hands, compared to its average volume of 729,291. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86. The company has a market cap of $14.47 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.86 and a beta of 1.04. The business has a 50 day moving average price of $85.72 and a 200 day moving average price of $84.18.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 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 analyst estimates of $590.57 million. Graco had a net margin of 22.26% and a return on equity of 19.05%. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. On average, equities research analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were issued 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%.

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.