Graco Inc. $GGG Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. has reduced its holdings in Graco Inc. by 13.5%, now owning approximately 0.35% of the company valued at $48.6 million by the end of the reporting period.
• Graco reported quarterly earnings of $0.75 per share, which was below consensus estimates of $0.78, along with revenue of $571.81 million, falling short of expectations.
• The company declared a quarterly dividend of $0.275 per share, reflecting an annual yield of 1.3% and a payout ratio of 39.01%.

Ameriprise Financial Inc. lowered its holdings in Graco Inc. (NYSE:GGG - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 582,526 shares of the industrial products company's stock after selling 90,714 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.35% of Graco worth $48,655,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bragg Financial Advisors Inc boosted its position in Graco by 1.2% during the 1st quarter. Bragg Financial Advisors Inc now owns 90,601 shares of the industrial products company's stock valued at $7,566,000 after acquiring an additional 1,078 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position 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 worth $4,754,000 after acquiring an additional 28,730 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Graco during the 1st quarter worth $9,450,000. Aptus Capital Advisors LLC boosted its position in Graco by 12.1% during the first quarter. Aptus Capital Advisors LLC now owns 82,466 shares of the industrial products company's stock valued at $6,887,000 after purchasing an additional 8,899 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in Graco by 92.6% in the first quarter. Brooklyn Investment Group now owns 932 shares of the industrial products company's stock valued at $78,000 after purchasing an additional 448 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors.

Graco Stock Down 1.0%

Shares of GGG traded down $0.88 during mid-day trading on Tuesday, hitting $84.51. 393,889 shares of the company traded hands, compared to its average volume of 637,418. The company has a market capitalization of $14.00 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 2.89 and a beta of 1.03. The business has a 50 day moving average of $85.91 and a 200 day moving average of $84.21. Graco Inc. has a 1-year low of $72.06 and a 1-year 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. As a group, research analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Graco's payout ratio is 39.01%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wolfe Research began coverage on shares of Graco in a research report on Wednesday, June 18th. They issued an "outperform" rating on the stock. Robert W. Baird increased 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 research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.