Graco Inc. $GGG Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Graco Inc. by 57.9%, now holding 3,680 shares valued at $316,000.
• Graco reported a missed earnings forecast for the last quarter, with earnings per share of $0.75 compared to the estimated $0.78, alongside revenue of $571.81 million.
• The company declared a quarterly dividend of $0.275 per share, to be paid on November 5th, representing a 1.3% yield for shareholders.

Atria Wealth Solutions Inc. trimmed its holdings in Graco Inc. (NYSE:GGG - Free Report) by 57.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,680 shares of the industrial products company's stock after selling 5,068 shares during the period. Atria Wealth Solutions Inc.'s holdings in Graco were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. eCIO Inc. acquired a new stake in shares of Graco in the first quarter valued at about $32,000. WPG Advisers LLC acquired a new stake in shares of Graco in the first quarter valued at about $41,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Graco by 41.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company's stock valued at $41,000 after buying an additional 141 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock valued at $42,000 after buying an additional 452 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Graco in the second quarter valued at about $51,000. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Price Performance

Shares of GGG stock opened at $84.02 on Wednesday. The firm has a market cap of $13.92 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 2.78 and a beta of 1.07. The company has a 50-day moving average of $84.58 and a two-hundred day moving average of $84.07. 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 announced its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). The company had revenue of $571.81 million for 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 quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. Sell-side analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The business also recently announced 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 of this dividend is Monday, October 20th. Graco's dividend payout ratio (DPR) is 39.01%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GGG. Weiss Ratings restated a "buy (b-)" rating on shares of Graco in a research report on Wednesday, October 8th. Robert W. Baird raised their price objective on shares of Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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