HB Wealth Management LLC Boosts Stock Holdings in Graco Inc. (NYSE:GGG)

Key Points

• HB Wealth Management LLC significantly increased its stake in Graco Inc. by 457.2%, acquiring an additional 14,170 shares in the first quarter, bringing its total holdings to 17,269 shares valued at approximately $1.44 million.
• Graco's stock recently traded down 1.3% to $83.47, with a market capitalization of $13.83 billion and an earnings per share (EPS) of $0.75, missing analysts' expectations of $0.78.
• The company declared a quarterly dividend of $0.275 per share, yielding 1.32%, with the payment slated for August 6th to shareholders of record as of July 21st.

HB Wealth Management LLC increased its stake in Graco Inc. (NYSE:GGG - Free Report) by 457.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,269 shares of the industrial products company's stock after purchasing an additional 14,170 shares during the quarter. HB Wealth Management LLC's holdings in Graco were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GGG. Wood Tarver Financial Group LLC acquired a new stake in shares of Graco during the 4th quarter worth approximately $46,000. Golden State Wealth Management LLC raised its position in Graco by 128.9% in the 1st quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 388 shares during the last quarter. Sit Investment Associates Inc. bought a new position in Graco in the 4th quarter valued at $80,000. USA Financial Formulas raised its position in shares of Graco by 43.6% during the first quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock worth $88,000 after acquiring an additional 321 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Graco by 21.1% during the first quarter. Fifth Third Bancorp now owns 1,834 shares of the industrial products company's stock worth $153,000 after acquiring an additional 319 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GGG has been the subject of a number of analyst reports. Robert W. Baird lifted their price objective on Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Wolfe Research assumed coverage on Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.50.

Insider Buying and Selling at Graco

In related news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total value of $309,393.24. Following the sale, the insider owned 27,520 shares of the company's stock, valued at approximately $2,373,049.60. The trade was a 11.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.19% of the stock is owned by insiders.

Graco Price Performance

Shares of NYSE GGG traded down $1.40 during mid-day trading on Friday, hitting $82.58. 666,400 shares of the stock traded hands, compared to its average volume of 834,413. The company has a market cap of $13.68 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.82 and a beta of 1.06. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86. The firm has a 50 day simple moving average of $85.66 and a two-hundred day simple moving average of $84.17.

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 the consensus estimate 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 the consensus estimate of $590.57 million. During the same period last year, the business posted $0.77 earnings per share. The business's revenue was up 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

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

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.