OneAscent Financial Services LLC Buys Shares of 3,347 Graco Inc. (NYSE:GGG)

OneAscent Financial Services LLC bought a new stake in Graco Inc. (NYSE:GGG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,347 shares of the industrial products company's stock, valued at approximately $282,000.

Several other large investors also recently added to or reduced their stakes in GGG. Orion Portfolio Solutions LLC lifted its stake in Graco by 1.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company's stock worth $1,226,000 after acquiring an additional 138 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in Graco by 2.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 6,347 shares of the industrial products company's stock worth $530,000 after acquiring an additional 169 shares in the last quarter. Values First Advisors Inc. lifted its stake in Graco by 0.8% during the 1st quarter. Values First Advisors Inc. now owns 23,084 shares of the industrial products company's stock worth $1,927,000 after acquiring an additional 180 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Graco by 118.0% during the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after acquiring an additional 190 shares in the last quarter. Finally, Optas LLC lifted its stake in Graco by 6.0% during the 1st quarter. Optas LLC now owns 3,560 shares of the industrial products company's stock worth $297,000 after acquiring an additional 200 shares in the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wolfe Research initiated coverage on Graco in a research report on Wednesday, June 18th. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Graco presently has an average rating of "Moderate Buy" and a consensus price target of $93.00.

Graco Trading Up 1.3%

Shares of GGG stock opened at $87.34 on Wednesday. The business's 50 day moving average is $85.83 and its two-hundred day moving average is $84.06. The company has a market capitalization of $14.60 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 2.92 and a beta of 1.06. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The business had revenue of $528.28 million during the quarter, compared to analysts' expectations of $526.98 million. Graco had a return on equity of 19.42% and a net margin of 22.70%. The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, equities analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, July 21st will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.10 annualized dividend and a yield of 1.26%. Graco's dividend payout ratio is presently 38.87%.

Insider Transactions at Graco

In other news, insider David J. Thompson sold 3,588 shares of the business'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 transaction, the insider directly owned 27,520 shares of the company's stock, valued at $2,373,049.60. The trade was a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate 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.

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