Graco Inc. $GGG Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its holdings in Graco Inc. by 12.3% during the 1st quarter, owning approximately 0.80% of the company, valued at $111.69 million.
• Graco reported earnings of $0.75 EPS, missing estimates, with a revenue of $571.81 million, up 3.4% year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Graco, with a price target of $94.50 following various upgrades.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 12.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,337,457 shares of the industrial products company's stock after purchasing an additional 146,424 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.80% of Graco worth $111,691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of GGG. WPG Advisers LLC bought a new position in Graco during the first quarter valued at $41,000. Wood Tarver Financial Group LLC purchased a new position in Graco in the 4th quarter worth about $46,000. Golden State Wealth Management LLC increased its stake in Graco by 128.9% in the 1st quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock worth $58,000 after buying an additional 388 shares during the period. National Pension Service increased its stake in Graco by 74.8% in the 1st quarter. National Pension Service now owns 699 shares of the industrial products company's stock worth $58,000 after buying an additional 299 shares during the period. Finally, Brooklyn Investment Group increased its stake in Graco by 92.6% in the 1st quarter. Brooklyn Investment Group now owns 932 shares of the industrial products company's stock worth $78,000 after buying an additional 448 shares during the period. Institutional investors own 93.88% of the company's stock.

Graco Stock Performance

GGG stock traded up $0.37 during trading on Thursday, reaching $85.17. The company had a trading volume of 126,660 shares, compared to its average volume of 795,987. The firm has a 50-day simple moving average of $85.40 and a 200-day simple moving average of $84.12. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.86 and a beta of 1.03. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Graco had a return on equity of 19.05% and a net margin of 22.26%.The company had revenue of $571.81 million during the quarter, compared to analyst estimates of $590.57 million. During the same quarter last year, the business earned $0.77 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Monday, October 20th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, October 20th. Graco's payout ratio is presently 39.01%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GGG. Wolfe Research began coverage on shares of Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Robert W. Baird raised their target price on shares of 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 assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.