UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 36,222 Shares of Graco Inc. $GGG

Key Points

• UBS Asset Management increased its Graco stake by 3.1% in the second quarter, buying 36,222 shares to own 1,208,598 shares valued at approximately $91.4 million. Institutional investors collectively own 93.88% of Graco.
• Analysts maintain a generally cautious outlook, with Graco carrying a consensus “Hold” rating and a $95 average price target. RBC raised its target to $96, while Wolfe Research downgraded the stock to “peer perform.”
• Graco’s shares opened at $76.94, below their 50-day and 200-day moving averages, despite quarterly EPS of $0.91 beating estimates. The company also pays a quarterly dividend of $0.295, representing a 1.5% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 3.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,208,598 shares of the industrial products company's stock after buying an additional 36,222 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.75% of Graco worth $91,382,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cassaday & Co Wealth Management LLC bought a new position in shares of Graco in the first quarter valued at approximately $26,000. Whipplewood Advisors LLC lifted its stake in Graco by 2,650.0% in the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company's stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Essential Partners LLC boosted its holdings in Graco by 78.6% in the 1st quarter. Essential Partners LLC now owns 359 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 158 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Graco by 982.6% during the 1st 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 in the last quarter. Finally, Root Financial Partners LLC increased its holdings in shares of Graco by 43.2% in the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company's stock worth $43,000 after purchasing an additional 152 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Graco Stock Down 0.6%

NYSE GGG opened at $76.94 on Wednesday. The stock's 50-day simple moving average is $78.25 and its two-hundred day simple moving average is $81.31. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69. The company has a market capitalization of $12.46 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.43 and a beta of 0.92.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.81 by $0.10. The firm had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. Graco had a return on equity of 19.54% and a net margin of 23.53%.The company's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.75 EPS. On average, equities analysts expect that Graco Inc. will post 3.19 earnings per share for the current fiscal year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were paid a $0.295 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.18 annualized dividend and a yield of 1.5%. Graco's dividend payout ratio is currently 37.11%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source