Gulf International Bank UK Ltd Reduces Holdings in Graco Inc. $GGG

Key Points

• Gulf International Bank UK Ltd reduced its stake in Graco Inc. by 30.7% in the first quarter, now holding 9,185 shares valued at approximately $767,000.
• Graco recently announced a quarterly dividend of $0.275 per share, resulting in an annualized payout of $1.10 and a yield of 1.3%.
• Despite a miss in earnings per share at $0.75, Graco's quarterly revenue of $571.81 million marked a 3.4% increase from the previous year.

Gulf International Bank UK Ltd trimmed its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 30.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,185 shares of the industrial products company's stock after selling 4,064 shares during the quarter. Gulf International Bank UK Ltd's holdings in Graco were worth $767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wood Tarver Financial Group LLC acquired a new position in shares of Graco during the fourth quarter worth approximately $46,000. Golden State Wealth Management LLC increased its stake in shares of Graco by 128.9% in the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock worth $58,000 after purchasing an additional 388 shares in the last quarter. National Pension Service grew its position in shares of Graco by 74.8% in the first quarter. National Pension Service now owns 699 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 299 shares in the last quarter. USA Financial Formulas grew its stake in Graco by 43.6% during the first quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock valued at $88,000 after acquiring an additional 321 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new position in Graco during the first quarter worth about $140,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Stock Down 0.5%

GGG traded down $0.42 during midday trading on Thursday, reaching $84.88. The company had a trading volume of 121,750 shares, compared to its average volume of 819,846. The business has a 50-day moving average of $85.65 and a two-hundred day moving average of $84.15. The company has a market cap of $14.06 billion, a P/E ratio of 30.11, a P/E/G ratio of 2.91 and a beta of 1.04. 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 issued its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $590.57 million. During the same quarter in the previous year, the company posted $0.77 EPS. The company's quarterly revenue was up 3.4% on a year-over-year basis. On average, equities research analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were given a dividend of $0.275 per share. The ex-dividend date was 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 (DPR) is presently 39.01%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wolfe Research started coverage on Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. Robert W. Baird raised their target price 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. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Graco presently 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.