Tran Capital Management L.P. Trims Stake 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. reduced its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 13.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Graco by 41.5% during the second 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 during the period. Kestra Private Wealth Services LLC boosted its position in shares of Graco by 2.7% during the first quarter. Kestra Private Wealth Services LLC now owns 6,347 shares of the industrial products company's stock worth $530,000 after buying an additional 169 shares during the period. Values First Advisors Inc. boosted its position in shares of Graco by 0.8% during the first quarter. Values First Advisors Inc. now owns 23,084 shares of the industrial products company's stock worth $1,927,000 after buying an additional 180 shares during the period. Optas LLC raised its stake in shares of Graco by 6.0% in the first quarter. Optas LLC now owns 3,560 shares of the industrial products company's stock valued at $297,000 after acquiring an additional 200 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in shares of Graco by 5.5% in the first quarter. Resonant Capital Advisors LLC now owns 3,843 shares of the industrial products company's stock valued at $321,000 after acquiring an additional 202 shares in the last quarter. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Graco Stock Performance

GGG traded up $0.39 during trading on Tuesday, reaching $84.85. The company's stock had a trading volume of 301,060 shares, compared to its average volume of 800,984. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $92.86. The company's fifty day moving average price is $85.21 and its 200-day moving average price is $84.08. The company has a market capitalization of $14.06 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 2.86 and a beta of 1.03.

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

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Monday, October 20th will be paid a $0.275 dividend. 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 dividend payout ratio is presently 39.01%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GGG shares. Wolfe Research started coverage on Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating on the stock. Robert W. Baird increased their price objective on Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $94.50.

Graco 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.