Seilern Investment Management Ltd Has $7.86 Million Holdings in Graco Inc. $GGG

Key Points

• Seilern Investment Management Ltd reduced its stake in Graco Inc. by 9.5%, resulting in ownership of 91,477 shares worth approximately $7.86 million.
• Graco's quarterly earnings report revealed $0.75 EPS, missing estimates, with revenue of $571.81 million, below the expected $590.57 million.
• Wall Street analysts rate Graco as a "Moderate Buy" with a price target of $94.50, while the stock currently trades around $84.46.

Seilern Investment Management Ltd lessened its stake in Graco Inc. (NYSE:GGG - Free Report) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,477 shares of the industrial products company's stock after selling 9,639 shares during the period. Graco comprises approximately 0.5% of Seilern Investment Management Ltd's investment portfolio, making the stock its 20th largest holding. Seilern Investment Management Ltd owned 0.05% of Graco worth $7,864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its holdings in shares of Graco by 149.5% during the 1st quarter. Bessemer Group Inc. now owns 4,992 shares of the industrial products company's stock worth $416,000 after purchasing an additional 2,991 shares in the last quarter. Asset Management One Co. Ltd. grew its position in shares of Graco by 13.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 70,117 shares of the industrial products company's stock valued at $5,855,000 after buying an additional 8,490 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Graco in the 1st quarter valued at about $2,335,000. Farther Finance Advisors LLC lifted its stake in Graco by 150.6% in the first quarter. Farther Finance Advisors LLC now owns 7,998 shares of the industrial products company's stock valued at $675,000 after purchasing an additional 4,806 shares during the last quarter. Finally, Novem Group increased its stake in Graco by 34.5% in the first quarter. Novem Group now owns 11,900 shares of the industrial products company's stock valued at $994,000 after acquiring an additional 3,052 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Stock Performance

Graco stock traded down $0.42 during mid-day trading on Friday, reaching $84.63. The stock had a trading volume of 281,679 shares, compared to its average volume of 795,732. The stock's 50-day simple moving average is $85.33 and its 200-day simple moving average is $84.12. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86. The firm has a market capitalization of $14.02 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.87 and a beta of 1.03.

Graco (NYSE:GGG - Get Free Report) last released its quarterly 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 net margin of 22.26% and a return on equity of 19.05%. The business had revenue of $571.81 million for the quarter, compared to the consensus estimate of $590.57 million. During the same period in the previous year, the company earned $0.77 EPS. The company's revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts forecast that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors 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 is Monday, October 20th. Graco's dividend payout ratio (DPR) is currently 39.01%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GGG. Robert W. Baird lifted their price target on shares of Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Wolfe Research started coverage on shares of Graco in a research report on Wednesday, June 18th. They issued an "outperform" rating for the company. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $94.50.

About Graco

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.