Graco Inc. $GGG Shares Purchased by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management LLC has increased its holdings in Graco Inc. by 10.6%, now owning approximately 0.08% of the company valued at $11.1 million.
• Graco's recent earnings report revealed a EPS of $0.75, missing the analysts' expectations of $0.78, with revenue at $571.81 million compared to a forecast of $590.57 million.
• The company announced a quarterly dividend of $0.275 per share, with the next payout scheduled for November 5th, representing a dividend yield of 1.3%.

WealthPlan Investment Management LLC increased its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 10.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 129,189 shares of the industrial products company's stock after acquiring an additional 12,352 shares during the period. WealthPlan Investment Management LLC owned approximately 0.08% of Graco worth $11,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allianz Asset Management GmbH lifted its stake in Graco by 55.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 693,111 shares of the industrial products company's stock valued at $59,587,000 after buying an additional 248,056 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in Graco by 0.3% in the 2nd quarter. Bridges Investment Management Inc. now owns 139,235 shares of the industrial products company's stock valued at $11,970,000 after buying an additional 411 shares in the last quarter. Generali Asset Management SPA SGR purchased a new position in Graco in the 2nd quarter valued at about $3,806,000. Bayforest Capital Ltd lifted its stake in Graco by 13.9% in the 2nd quarter. Bayforest Capital Ltd now owns 7,731 shares of the industrial products company's stock valued at $665,000 after buying an additional 943 shares in the last quarter. Finally, Equitable Trust Co. lifted its stake in Graco by 58.2% in the 2nd quarter. Equitable Trust Co. now owns 10,789 shares of the industrial products company's stock valued at $928,000 after buying an additional 3,969 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GGG shares. 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 assumed coverage on shares of Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Graco in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $94.50.

Graco Price Performance

GGG opened at $82.19 on Thursday. The company's 50 day simple moving average is $84.69 and its two-hundred day simple moving average is $84.03. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.86. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 2.76 and a beta of 1.07.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). The business had revenue of $571.81 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. On average, equities analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Monday, October 20th will be issued a dividend of $0.275 per share. The ex-dividend date is Monday, October 20th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Graco's dividend payout ratio (DPR) is currently 39.01%.

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.

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