Graco Inc. (NYSE:GGG) Shares Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly increased its holdings in Graco Inc. by 910.1% during Q1, now owning 6,788 shares worth approximately $567,000.
• Graco recently reported earnings per share of $0.75, missing estimates, with a revenue of $571.81 million, falling short of anticipated figures.
• The company declared a quarterly dividend of $0.275 per share, reflecting an annual yield of 1.32% and a payout ratio of 39.01%.

Bayforest Capital Ltd raised its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 910.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,788 shares of the industrial products company's stock after purchasing an additional 6,116 shares during the period. Bayforest Capital Ltd's holdings in Graco were worth $567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bessemer Group Inc. raised its holdings in shares of Graco by 149.5% in the first quarter. Bessemer Group Inc. now owns 4,992 shares of the industrial products company's stock worth $416,000 after buying an additional 2,991 shares during the period. Asset Management One Co. Ltd. increased its holdings in Graco by 13.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 70,117 shares of the industrial products company's stock worth $5,855,000 after purchasing an additional 8,490 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Graco during the 1st quarter worth $2,335,000. Farther Finance Advisors LLC boosted its position in Graco by 150.6% during the 1st quarter. Farther Finance Advisors LLC now owns 7,998 shares of the industrial products company's stock valued at $675,000 after acquiring an additional 4,806 shares in the last quarter. Finally, Novem Group boosted its position in Graco by 34.5% during the 1st 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 in the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Graco

In other Graco news, insider David J. Thompson sold 3,588 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the transaction, the insider owned 27,520 shares of the company's stock, valued at $2,373,049.60. This represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.19% of the stock is owned by insiders.

Graco Price Performance

NYSE GGG traded down $1.40 during trading hours on Friday, reaching $82.58. The company's stock had a trading volume of 666,400 shares, compared to its average volume of 743,640. The firm has a market capitalization of $13.68 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 2.79 and a beta of 1.04. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.86. The company's 50-day moving average is $85.64 and its two-hundred day moving average is $84.17.

Graco (NYSE:GGG - Get Free Report) last announced 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 net margin of 22.26% and a return on equity of 19.05%. The firm had revenue of $571.81 million for the quarter, compared to analyst estimates of $590.57 million. During the same period in the previous year, the company earned $0.77 EPS. Graco's revenue was up 3.4% compared to the same quarter last year. Equities analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Graco's dividend payout ratio is presently 39.01%.

Wall Street Analyst Weigh In

GGG has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on Graco in a research report on Wednesday, June 18th. They issued an "outperform" rating for the company. Robert W. Baird raised their target price on Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Graco presently has a consensus rating of "Moderate Buy" and an average target price 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.