Graco Inc. $GGG Stake Increased by Maren Capital LLC

Key Points

• Maren Capital increased its Graco stake by 30.5% in the second quarter, acquiring 238,487 additional shares to own 1.02 million shares valued at approximately $77.1 million. Institutional investors and hedge funds collectively own 93.88% of Graco.
• Graco reported quarterly EPS of $0.91, exceeding analysts’ $0.81 estimate, while revenue rose 3.3% year over year to $590.55 million but fell short of the $608.06 million consensus estimate.
• The stock recently traded at $77.93, below the analyst consensus price target of $95.00. Analysts’ overall rating is “Hold,” and Graco maintains a quarterly dividend of $0.295, equivalent to a 1.5% annual yield.

Maren Capital LLC lifted its holdings in Graco Inc. (NYSE:GGG - Free Report) by 30.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,020,271 shares of the industrial products company's stock after buying an additional 238,487 shares during the period. Graco comprises approximately 3.6% of Maren Capital LLC's portfolio, making the stock its 12th biggest position. Maren Capital LLC owned about 0.63% of Graco worth $77,143,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GGG. Cassaday & Co Wealth Management LLC acquired a new stake in Graco during the 1st quarter worth about $26,000. Whipplewood Advisors LLC increased its holdings in shares of Graco by 2,650.0% in the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 318 shares during the period. Essential Partners LLC lifted its position in shares of Graco by 78.6% in the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company's stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock worth $42,000 after purchasing an additional 452 shares during the period. Finally, Root Financial Partners LLC grew its position in Graco by 43.2% during the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 152 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Price Performance

Shares of NYSE:GGG opened at $77.93 on Friday. Graco Inc. has a fifty-two week low of $72.51 and a fifty-two week high of $95.69. The business has a 50-day moving average of $78.38 and a two-hundred day moving average of $81.05. The stock has a market capitalization of $12.62 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.44 and a beta of 0.92.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The business had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. During the same quarter in the prior year, the firm posted $0.75 EPS. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts expect that Graco Inc. will post 3.19 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were given a $0.295 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. Graco's dividend payout ratio (DPR) is currently 37.11%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GGG shares. Wolfe Research lowered shares of Graco from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Weiss Ratings raised shares of Graco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Robert W. Baird set a $94.00 price target on shares of Graco in a report on Friday, July 24th. DA Davidson reaffirmed a "neutral" rating and issued a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Finally, Royal Bank Of Canada increased their price objective on Graco from $92.00 to $96.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $95.00.

Graco Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco's solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company's product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.

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