Merit Financial Group LLC Makes New Investment in Graco Inc. (NYSE:GGG)

Merit Financial Group LLC bought a new stake in shares of Graco Inc. (NYSE:GGG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,068 shares of the industrial products company's stock, valued at approximately $590,000.

Several other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of Graco in the fourth quarter worth $25,000. TD Private Client Wealth LLC increased its holdings in Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 190 shares during the last quarter. National Pension Service purchased a new stake in Graco in the 4th quarter worth $34,000. Whipplewood Advisors LLC bought a new position in shares of Graco during the 4th quarter valued at about $37,000. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of Graco during the fourth quarter valued at about $46,000. Institutional investors own 93.88% of the company's stock.

Graco Price Performance

Shares of GGG stock traded down $1.65 during trading hours on Friday, hitting $83.48. The stock had a trading volume of 612,732 shares, compared to its average volume of 807,319. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 2.85 and a beta of 1.07. Graco Inc. has a one year low of $72.06 and a one year high of $92.86. The stock's 50-day moving average price is $82.56 and its two-hundred day moving average price is $84.17.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. Graco had a return on equity of 19.38% and a net margin of 23.00%. The business had revenue of $528.28 million for the quarter, compared to the consensus estimate of $526.98 million. During the same period in the prior year, the business posted $0.65 earnings per share. The company's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, July 21st. Graco's dividend payout ratio (DPR) is presently 38.87%.

Insider Transactions at Graco

In related news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the sale, the insider now owns 27,520 shares in the company, valued at $2,373,049.60. This trade represents a 11.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.19% of the company's stock.

Graco 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.