Tran Capital Management L.P. Reduces Position in Graco Inc. $GGG

Key Points

• Tran Capital Management L.P. has reduced its holdings in Graco Inc. by 13.2%, now owning 23,269 shares worth approximately $2 million.
• Graco reported a quarterly EPS of $0.75, missing analysts' expectations, with a revenue of $571.81 million for the quarter.
• The company announced a quarterly dividend of $0.275 per share, with an upcoming ex-dividend date on October 20th.

Tran Capital Management L.P. cut its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 13.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,269 shares of the industrial products company's stock after selling 3,550 shares during the period. Tran Capital Management L.P.'s holdings in Graco were worth $2,000,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Marshall Financial Group LLC lifted its holdings in Graco by 3.9% in the second quarter. Marshall Financial Group LLC now owns 13,787 shares of the industrial products company's stock valued at $1,208,000 after acquiring an additional 520 shares during the period. NorthCrest Asset Manangement LLC bought a new position in shares of Graco in the second quarter worth about $216,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Graco by 82.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 180,509 shares of the industrial products company's stock worth $16,027,000 after buying an additional 81,706 shares during the period. Sarasin & Partners LLP raised its stake in shares of Graco by 0.7% in the second quarter. Sarasin & Partners LLP now owns 307,638 shares of the industrial products company's stock worth $26,448,000 after buying an additional 2,194 shares during the period. Finally, Taylor Hoffman Capital Management LLC grew its position in shares of Graco by 3.4% during the second quarter. Taylor Hoffman Capital Management LLC now owns 45,952 shares of the industrial products company's stock worth $3,950,000 after purchasing an additional 1,493 shares in the last quarter. Institutional investors own 93.88% of the company's stock.

Graco Stock Performance

Shares of GGG stock opened at $84.66 on Friday. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $92.86. The firm has a market capitalization of $14.03 billion, a P/E ratio of 30.02, a P/E/G ratio of 2.86 and a beta of 1.03. The stock has a 50 day moving average price of $85.27 and a 200 day moving average price of $84.11.

Graco (NYSE:GGG - Get Free Report) last issued 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 business had revenue of $571.81 million for the quarter, compared to the consensus estimate of $590.57 million. During the same period in the prior year, the business posted $0.77 earnings per share. Graco's revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently issued reports on GGG. Wolfe Research began coverage on Graco in a research report on Wednesday, June 18th. They set an "outperform" rating for the company. Robert W. Baird increased their target price on Graco from $88.00 to $91.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Graco presently has a consensus 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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