3,280 Shares in Graco Inc. (NYSE:GGG) Bought by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG has acquired a new stake in Graco Inc. worth approximately $274,000, buying 3,280 shares during the first quarter.
• Graco recently reported quarterly earnings of $0.75 EPS, missing estimates, with revenue of $571.81 million, which is below the consensus estimate of $590.57 million.
• The company declared a quarterly dividend of $0.275, payable on August 6th, reflecting a 1.3% dividend yield.

Raiffeisen Bank International AG purchased a new stake in Graco Inc. (NYSE:GGG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,280 shares of the industrial products company's stock, valued at approximately $274,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC increased its holdings in shares of Graco by 2.7% in the 4th quarter. LPL Financial LLC now owns 68,194 shares of the industrial products company's stock valued at $5,748,000 after acquiring an additional 1,804 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Graco by 12.9% in the 4th quarter. Franklin Resources Inc. now owns 135,091 shares of the industrial products company's stock worth $11,387,000 after purchasing an additional 15,383 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in shares of Graco during the fourth quarter valued at $4,719,000. Sit Investment Associates Inc. acquired a new stake in shares of Graco in the 4th quarter worth about $80,000. Finally, Envestnet Asset Management Inc. boosted its stake in Graco by 11.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 247,741 shares of the industrial products company's stock valued at $20,882,000 after purchasing an additional 26,124 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Graco Price Performance

Graco stock traded up $0.21 during midday trading on Friday, reaching $84.12. The stock had a trading volume of 14,018 shares, compared to its average volume of 826,758. The firm's fifty day simple moving average is $85.58 and its two-hundred day simple moving average is $84.13. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 2.82 and a beta of 1.04.

Graco (NYSE:GGG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). The business had revenue of $571.81 million during the quarter, compared to analyst estimates of $590.57 million. Graco had a return on equity of 19.05% and a net margin of 22.26%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $0.77 EPS. As a group, sell-side analysts predict that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 21st were given a dividend of $0.275 per share. The ex-dividend date of this dividend 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 (DPR) is presently 39.01%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wolfe Research started coverage on Graco in a report on Wednesday, June 18th. They issued an "outperform" rating for the company. Robert W. Baird raised 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Graco currently has an average rating of "Moderate Buy" and a consensus price target of $94.50.

Insider Transactions at Graco

In other news, insider David J. Thompson sold 3,588 shares of the stock in a transaction 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 $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 this hyperlink. 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.