SEB Asset Management AB Takes $20.62 Million Position in Graco Inc. $GGG

Key Points

• SEB Asset Management AB bought a new stake in Graco Inc., purchasing 243,624 shares worth about $20.62 million in the first quarter and owning 0.15% of the company.
• Graco’s latest quarterly results missed expectations, with EPS of $0.66 versus the $0.75 estimate and revenue of $540.14 million below the $561.35 million forecast.
• The company announced a quarterly dividend of $0.295 per share, payable August 5, which annualizes to $1.18 per share and a 1.6% yield.

SEB Asset Management AB purchased a new stake in Graco Inc. (NYSE:GGG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 243,624 shares of the industrial products company's stock, valued at approximately $20,623,000. SEB Asset Management AB owned 0.15% of Graco as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC raised its holdings in Graco by 2,650.0% during the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company's stock worth $28,000 after buying an additional 318 shares during the period. Field & Main Bank acquired a new position in shares of Graco in the fourth quarter worth about $41,000. Geneos Wealth Management Inc. increased 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 worth $42,000 after acquiring an additional 452 shares in the last quarter. Root Financial Partners LLC increased its position in shares of Graco by 43.2% in the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company's stock worth $43,000 after acquiring an additional 152 shares in the last quarter. Finally, Matrix Trust Co raised its holdings in shares of Graco by 43.0% during the fourth quarter. Matrix Trust Co now owns 555 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 167 shares during the period. Hedge funds and other institutional investors own 93.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. DA Davidson reaffirmed a "neutral" rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, April 27th. Royal Bank Of Canada reissued an "outperform" rating and set a $92.00 target price (down from $95.00) on shares of Graco in a research note on Thursday. Wolfe Research lowered Graco from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Robert W. Baird reduced their target price on Graco from $96.00 to $92.00 and set a "neutral" rating for the company in a report on Friday, April 24th. Finally, Weiss Ratings cut Graco from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $93.50.

Graco Stock Up 0.0%

GGG stock opened at $74.61 on Monday. The company has a 50 day moving average of $75.18 and a two-hundred day moving average of $82.90. The company has a market cap of $12.38 billion, a price-to-earnings ratio of 24.30, a PEG ratio of 2.40 and a beta of 0.93. Graco Inc. has a 12-month low of $72.51 and a 12-month high of $95.69.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The company had revenue of $540.14 million for the quarter, compared to analysts' expectations of $561.35 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company's revenue was up 2.2% on a year-over-year basis. On average, research analysts anticipate that Graco Inc. will post 3.1 EPS for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. Graco's dividend payout ratio (DPR) is presently 38.44%.

Insider Buying and Selling

In other news, Director Andrea Helen Simon bought 1,240 shares of the stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the purchase, the director directly owned 1,240 shares of the company's stock, valued at $99,857.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.18% of the stock is owned by company insiders.

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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