Y Intercept Hong Kong Ltd Reduces Stock Position in Graco Inc. (NYSE:GGG)

Key Points

• Y Intercept Hong Kong Ltd reduced its stake in Graco Inc. by 66.2% in the first quarter, bringing its holdings to 2,859 shares valued at approximately $239,000.
• Graco recently reported $0.75 earnings per share (EPS) for the quarter, missing analyst estimates, and its quarterly revenue was up 3.4% year-over-year.
• The company has announced a quarterly dividend of $0.275, representing a yield of 1.32%, with the ex-dividend date set for July 21st.

Y Intercept Hong Kong Ltd trimmed its holdings in Graco Inc. (NYSE:GGG - Free Report) by 66.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,859 shares of the industrial products company's stock after selling 5,588 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Graco were worth $239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Wood Tarver Financial Group LLC purchased a new position in Graco during the 4th quarter worth $46,000. Golden State Wealth Management LLC increased its holdings in Graco by 128.9% during the 1st 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 during the period. Sit Investment Associates Inc. purchased a new position in Graco during the 4th quarter worth $80,000. USA Financial Formulas increased its holdings in Graco by 43.6% during the 1st quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock worth $88,000 after purchasing an additional 321 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Graco by 21.1% during the 1st quarter. Fifth Third Bancorp now owns 1,834 shares of the industrial products company's stock worth $153,000 after purchasing an additional 319 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Graco

In other news, insider David J. Thompson sold 3,588 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the sale, the insider owned 27,520 shares of the company's stock, valued at $2,373,049.60. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a document filed 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 midday trading on Friday, hitting $82.58. 666,400 shares of the company traded hands, compared to its average volume of 743,640. The company has a market cap of $13.68 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.79 and a beta of 1.04. The company's 50-day simple moving average is $85.64 and its 200-day simple moving average is $84.17. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86.

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

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st will be given a $0.275 dividend. 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 (DPR) is presently 39.01%.

Analyst Upgrades and Downgrades

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