Resona Asset Management Co. Ltd. Buys 3,836 Shares of Graco Inc. (NYSE:GGG)

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in Graco Inc. by 6.9%, now owning 59,829 shares worth approximately $4.996 million.
• Graco's recent earnings report showed a missed consensus EPS estimate of $0.75, compared to the expected $0.78, despite a year-over-year revenue increase of 3.4%.
• The company declared a quarterly dividend of $0.275, representing an annualized yield of 1.3% and a payout ratio of 39.01%.

Resona Asset Management Co. Ltd. boosted its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,829 shares of the industrial products company's stock after buying an additional 3,836 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Graco were worth $4,996,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GGG. Cerity Partners LLC grew its position in Graco by 32.3% during the fourth quarter. Cerity Partners LLC now owns 17,702 shares of the industrial products company's stock valued at $1,524,000 after buying an additional 4,322 shares during the period. Townsquare Capital LLC grew its position in Graco by 32.7% during the fourth quarter. Townsquare Capital LLC now owns 4,532 shares of the industrial products company's stock valued at $382,000 after buying an additional 1,118 shares during the period. Barclays PLC grew its position in Graco by 75.5% during the fourth quarter. Barclays PLC now owns 231,807 shares of the industrial products company's stock valued at $19,539,000 after buying an additional 99,729 shares during the period. Mariner LLC lifted its holdings in Graco by 10.3% during the fourth quarter. Mariner LLC now owns 71,415 shares of the industrial products company's stock valued at $6,020,000 after purchasing an additional 6,691 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Graco by 13.9% during the fourth quarter. NewEdge Advisors LLC now owns 3,771 shares of the industrial products company's stock valued at $318,000 after purchasing an additional 461 shares during the last quarter. Institutional investors own 93.88% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on GGG. Wolfe Research began coverage on shares of Graco in a report on Wednesday, June 18th. They set an "outperform" rating on the stock. Robert W. Baird upped their price objective on shares of Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $94.50.

Graco Stock Down 0.9%

NYSE GGG opened at $84.48 on Friday. The company has a market cap of $14.00 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 2.88 and a beta of 1.04. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The firm's 50-day simple moving average is $85.65 and its two-hundred day simple moving average is $84.11.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Graco had a return on equity of 19.05% and a net margin of 22.26%. The firm had revenue of $571.81 million during the quarter, compared to analysts' expectations of $590.57 million. During the same period in the previous year, the company posted $0.77 earnings per share. The company's quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, July 21st. Graco's dividend payout ratio is presently 39.01%.

Graco Company 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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