Graco Inc. (NYSE:GGG) Shares Sold by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC reduced its holdings in Graco Inc. by 54.9%, selling 20,432 shares and leaving them with 16,794 shares valued at $1.4 million.
• Graco's recent quarterly earnings missed analysts' expectations, reporting $0.75 EPS against a consensus of $0.78, alongside revenue of $571.81 million, which was below estimates of $590.57 million.
• Graco declared a quarterly dividend of $0.275, yielding 1.3% annually, with a payout ratio of 39.01% as of the last payment on August 6th.

New Age Alpha Advisors LLC trimmed its stake in Graco Inc. (NYSE:GGG - Free Report) by 54.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,794 shares of the industrial products company's stock after selling 20,432 shares during the period. New Age Alpha Advisors LLC's holdings in Graco were worth $1,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new stake in Graco in the 4th quarter valued at about $46,000. Golden State Wealth Management LLC lifted its position in shares of Graco by 128.9% in 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. USA Financial Formulas lifted its position in shares of Graco by 43.6% in 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. Fifth Third Bancorp lifted its position in shares of Graco by 21.1% in 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. Finally, UMB Bank n.a. lifted its position in shares of Graco by 93.0% in the 1st quarter. UMB Bank n.a. now owns 1,845 shares of the industrial products company's stock worth $154,000 after purchasing an additional 889 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Performance

NYSE:GGG traded down $0.42 during midday trading on Friday, reaching $83.50. 522,894 shares of the stock traded hands, compared to its average volume of 809,869. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86. The business has a 50-day moving average of $85.56 and a two-hundred day moving average of $84.11. The stock has a market capitalization of $13.83 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 2.82 and a beta of 1.04.

Graco (NYSE:GGG - Get Free Report) last posted 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 analysts' expectations of $590.57 million. During the same period in the previous year, the company earned $0.77 EPS. The company's revenue was up 3.4% on a year-over-year basis. Research analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st were paid 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 yield of 1.3%. Graco's dividend payout ratio is presently 39.01%.

Insider Transactions at Graco

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GGG. Wolfe Research began coverage on shares of Graco in a research report on Wednesday, June 18th. They issued an "outperform" rating for the company. Robert W. Baird upped their price target 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Graco has a consensus rating of "Moderate Buy" and an average price target of $94.50.

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.