SWS Partners Invests $2.31 Million in Graco Inc. $GGG

Key Points

• SWS Partners purchased 30,567 Graco shares worth approximately $2.31 million during the second quarter. Institutional investors collectively own 93.88% of Graco’s stock.
• Graco reported quarterly EPS of $0.91, exceeding the $0.81 analyst consensus, while revenue rose 3.3% year over year to $590.55 million but fell short of estimates.
• The company pays an annualized dividend of $1.18 per share, yielding 1.4%. Analysts maintain a consensus “Hold” rating with a $95 target price, compared with the stock’s recent price of $81.90.

SWS Partners bought a new stake in shares of Graco Inc. (NYSE:GGG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 30,567 shares of the industrial products company's stock, valued at approximately $2,311,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GGG. AE Wealth Management LLC lifted its holdings in shares of Graco by 32.7% in the 4th quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company's stock worth $32,652,000 after acquiring an additional 98,141 shares during the last quarter. Comerica Bank grew its holdings in Graco by 54.1% during the 4th quarter. Comerica Bank now owns 172,328 shares of the industrial products company's stock valued at $14,126,000 after purchasing an additional 60,486 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Graco by 20,706.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company's stock valued at $45,605,000 after purchasing an additional 553,688 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Graco by 294.4% during the 4th quarter. Teacher Retirement System of Texas now owns 297,787 shares of the industrial products company's stock valued at $24,410,000 after purchasing an additional 222,279 shares during the last quarter. Finally, Oxbow Advisors LLC purchased a new stake in Graco in the 4th quarter worth about $3,157,000. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Price Performance

Graco stock opened at $81.90 on Friday. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 2.53 and a beta of 0.92. Graco Inc. has a 1 year low of $72.51 and a 1 year high of $95.69. The firm has a 50-day moving average of $77.08 and a two-hundred day moving average of $82.22.

Graco (NYSE:GGG - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.10. The business had revenue of $590.55 million for the quarter, compared to the consensus estimate of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. Research analysts expect that Graco Inc. will post 3.26 earnings per share for the current year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were issued a $0.295 dividend. The ex-dividend date was Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. Graco's payout ratio is presently 37.11%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wolfe Research downgraded shares of Graco from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Royal Bank Of Canada upped their target price on Graco from $92.00 to $96.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. Weiss Ratings raised Graco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. DA Davidson restated a "neutral" rating and set a $85.00 price objective on shares of Graco in a report on Monday, July 27th. Finally, Robert W. Baird set a $94.00 price objective on Graco in a research report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $95.00.

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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