SG Americas Securities LLC Increases Stock Position in Graco Inc. $GGG

Key Points

• SG Americas Securities LLC increased its Graco stake by 263.2% in Q1, holding 449,054 shares worth about $38.0 million after the purchase. Institutional ownership remains very high, with hedge funds and other investors owning 93.88% of the stock.
• Graco shares were down 1.6% and traded at $74.30, near their 52-week low of $73.26. The stock is below both its 50-day and 200-day moving averages.
• Graco reported mixed quarterly results, with EPS of $0.66 missing estimates and revenue of $540.14 million also below expectations. The company also announced a quarterly dividend of $0.295 per share, payable August 5, for an annualized yield of 1.6%.

SG Americas Securities LLC raised its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 263.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 449,054 shares of the industrial products company's stock after acquiring an additional 325,399 shares during the period. SG Americas Securities LLC owned approximately 0.27% of Graco worth $38,012,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. boosted its position in shares of Graco by 42.6% during the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company's stock worth $40,000 after purchasing an additional 139 shares during the period. Geneos Wealth Management Inc. raised its position in 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 purchasing an additional 452 shares during the period. Field & Main Bank acquired a new position in Graco during the fourth quarter worth $41,000. Matrix Trust Co lifted its stake in Graco by 43.0% during the fourth quarter. Matrix Trust Co now owns 555 shares of the industrial products company's stock worth $45,000 after purchasing an additional 167 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Graco by 41.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 746 shares of the industrial products company's stock worth $62,000 after buying an additional 219 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Down 1.6%

Shares of Graco stock opened at $74.30 on Wednesday. Graco Inc. has a 52 week low of $73.26 and a 52 week high of $95.69. The firm's 50 day moving average is $78.09 and its two-hundred day moving average is $83.95. The firm has a market capitalization of $12.33 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.43 and a beta of 0.93.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.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 posted $0.70 EPS. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Graco Dividend Announcement

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

Insider Buying and Selling at Graco

In other news, Director Andrea Helen Simon bought 1,240 shares of Graco stock in a transaction dated Monday, April 27th. The stock was acquired at an average cost of $80.53 per share, with a total value of $99,857.20. Following the acquisition, the director owned 1,240 shares of the company's stock, valued at approximately $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Robert W. Baird lowered 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. Royal Bank Of Canada reissued an "outperform" rating and set a $95.00 price target on shares of Graco in a research report on Friday, April 24th. DA Davidson reissued a "neutral" rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, April 27th. Finally, Weiss Ratings cut shares of Graco from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $94.25.

About Graco

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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