Sequoia Financial Advisors LLC Raises Stock Position in Graco Inc. $GGG

Key Points

• Sequoia Financial Advisors LLC increased its stake in Graco Inc. by 23.9%, owning 34,636 shares valued at approximately $2.98 million as of the latest filing.
• Graco reported $0.75 earnings per share for the latest quarter, missing estimates of $0.78, with revenues of $571.81 million, falling short of the $590.57 million expectation.
• The company declared a quarterly dividend of $0.275 per share, with an annualized yield of 1.3%, set to be paid on November 5th to investors of record on October 20th.

Sequoia Financial Advisors LLC boosted its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 23.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,636 shares of the industrial products company's stock after acquiring an additional 6,671 shares during the period. Sequoia Financial Advisors LLC's holdings in Graco were worth $2,978,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. eCIO Inc. purchased a new position in Graco in the 1st quarter worth approximately $32,000. WPG Advisers LLC purchased a new position in Graco in the 1st quarter worth approximately $41,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Graco by 41.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company's stock worth $41,000 after buying an additional 141 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock worth $42,000 after buying an additional 452 shares in the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new position in Graco in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Stock Performance

Shares of GGG opened at $82.19 on Thursday. The firm has a market cap of $13.62 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.76 and a beta of 1.07. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86. The firm has a 50 day moving average price of $84.69 and a 200-day moving average price of $84.03.

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

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Monday, October 20th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, October 20th. Graco's dividend payout ratio is currently 39.01%.

Wall Street Analysts Forecast Growth

GGG has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Wolfe Research initiated coverage on shares of Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Graco in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $94.50.

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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