Graco Inc. $GGG Shares Purchased by Maren Capital LLC

Key Points

• Maren Capital LLC increased its stake in Graco Inc. by 15.2%, owning a total of 685,015 shares valued at approximately $57.2 million as of the recent SEC filing.
• Graco's most recent earnings report showed an EPS of $0.75, which was $0.03 below analysts' expectations, alongside a revenue of $571.81 million.
• The company declared a quarterly dividend of $0.275 per share, translating to an annualized dividend of $1.10 and a yield of 1.3%.

Maren Capital LLC grew its holdings in Graco Inc. (NYSE:GGG - Free Report) by 15.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 685,015 shares of the industrial products company's stock after purchasing an additional 90,302 shares during the period. Graco makes up 3.9% of Maren Capital LLC's investment portfolio, making the stock its 13th largest position. Maren Capital LLC owned 0.41% of Graco worth $57,206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AlphaQuest LLC increased its holdings in Graco by 2,375,100.0% in the 1st quarter. AlphaQuest LLC now owns 23,752 shares of the industrial products company's stock valued at $1,984,000 after purchasing an additional 23,751 shares during the last quarter. Allstate Corp boosted its position in shares of Graco by 279.2% during the first quarter. Allstate Corp now owns 18,458 shares of the industrial products company's stock worth $1,541,000 after buying an additional 13,591 shares during the period. Compound Planning Inc. acquired a new stake in shares of Graco in the first quarter valued at $210,000. Bragg Financial Advisors Inc grew its stake in shares of Graco by 1.2% in the first quarter. Bragg Financial Advisors Inc now owns 90,601 shares of the industrial products company's stock valued at $7,566,000 after buying an additional 1,078 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in shares of Graco by 101.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 56,928 shares of the industrial products company's stock valued at $4,754,000 after buying an additional 28,730 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Price Performance

Shares of GGG stock traded up $0.45 during trading hours on Wednesday, reaching $87.16. 647,150 shares of the stock were exchanged, compared to its average volume of 818,265. The business's fifty day moving average is $85.82 and its two-hundred day moving average is $84.21. The firm has a market capitalization of $14.44 billion, a P/E ratio of 30.91, a P/E/G ratio of 2.94 and a beta of 1.04. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results 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 return on equity of 19.05% and a net margin of 22.26%.The company's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. As a group, equities research analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were issued a $0.275 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Graco's dividend payout ratio is presently 39.01%.

Analyst Ratings Changes

Several research firms have weighed in on GGG. Robert W. Baird lifted 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. Wolfe Research started coverage on shares of Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.