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Graco Inc. $GGG Shares Sold by William Blair Investment Management LLC

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Key Points

  • William Blair Investment Management LLC reduced its stake in Graco Inc. by 54.9%, owning 121,982 shares after selling 148,453 shares during the 2nd quarter.
  • Graco reported $571.81 million in revenue for the last quarter, missing estimates by $18.76 million, and earnings per share of $0.75, below the consensus of $0.78.
  • The company has declared a quarterly dividend of $0.275 per share, with an ex-dividend date on October 20th, resulting in a dividend yield of 1.3%.
  • Interested in Graco? Here are five stocks we like better.

William Blair Investment Management LLC reduced its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 54.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,982 shares of the industrial products company's stock after selling 148,453 shares during the period. William Blair Investment Management LLC owned about 0.07% of Graco worth $10,487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. eCIO Inc. acquired a new stake in shares of Graco during the 1st quarter valued at approximately $32,000. WPG Advisers LLC acquired a new stake in shares of Graco during the 1st quarter valued at approximately $41,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Graco by 41.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 141 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 452 shares in the last quarter. Finally, Trust Co. of Toledo NA OH bought a new position in Graco during the 2nd quarter worth $51,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird upped their price objective on Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Weiss Ratings restated a "buy (b-)" rating on shares of Graco in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Graco presently has a consensus rating of "Moderate Buy" and an average target price of $94.50.

Get Our Latest Report on GGG

Graco Stock Performance

NYSE:GGG opened at $82.38 on Tuesday. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 2.77 and a beta of 1.07. The business has a fifty day moving average of $84.60 and a 200-day moving average of $84.07.

Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). Graco had a return on equity of 19.05% and a net margin of 22.26%.The business had revenue of $571.81 million during the quarter, compared to the consensus estimate of $590.57 million. During the same period in the previous year, the company posted $0.77 EPS. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities research analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

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

Graco Profile

(Free Report)

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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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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