Oxbow Advisors LLC Takes Position in Graco Inc. $GGG

Key Points

• Oxbow Advisors LLC acquired 39,422 Graco shares during the second quarter, valued at approximately $2.98 million. Institutional investors and hedge funds collectively own 93.88% of Graco’s outstanding stock.
• Graco reported quarterly earnings of $0.91 per share, beating estimates of $0.81, while revenue rose 3.3% year over year to $590.55 million but fell short of expectations.
• Analysts maintain a generally cautious outlook, with Graco receiving an average “Hold” rating and a $95 price target. The company also pays a quarterly dividend of $0.295 per share, yielding about 1.5%.

Oxbow Advisors LLC bought a new stake in Graco Inc. (NYSE:GGG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 39,422 shares of the industrial products company's stock, valued at approximately $2,981,000.

Other hedge funds have also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC purchased a new stake in Graco during the 1st quarter worth approximately $26,000. Whipplewood Advisors LLC raised its holdings in shares of Graco by 2,650.0% during the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Essential Partners LLC lifted its position in shares of Graco by 78.6% in the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 158 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 452 shares in the last quarter. Finally, Field & Main Bank acquired a new stake in shares of Graco in the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 93.88% of the company's stock.

Graco Price Performance

Shares of Graco stock opened at $81.09 on Wednesday. The stock's 50 day simple moving average is $77.33 and its 200-day simple moving average is $82.10. The stock has a market cap of $13.13 billion, a P/E ratio of 25.50, a P/E/G ratio of 2.52 and a beta of 0.92. Graco Inc. has a 1-year low of $72.51 and a 1-year high of $95.69.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The firm had revenue of $590.55 million during the quarter, compared to analysts' expectations of $608.06 million. During the same quarter last year, the firm earned $0.75 earnings per share. The business's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts expect that Graco Inc. will post 3.26 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, July 20th. Graco's dividend payout ratio is presently 37.11%.

Wall Street Analyst Weigh In

Several brokerages recently commented on GGG. Royal Bank Of Canada boosted their price target on Graco from $92.00 to $96.00 and gave the stock an "outperform" rating in a research report on Friday, July 24th. Weiss Ratings upgraded Graco from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 4th. Robert W. Baird set a $94.00 target price on shares of Graco in a research note on Friday, July 24th. Wolfe Research lowered shares of Graco from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Finally, DA Davidson reiterated a "neutral" rating and issued a $85.00 target price on shares of Graco in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Graco presently has an average rating of "Hold" and an average target price of $95.00.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco's solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company's product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.

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