Graco Inc. $GGG Stake Increased by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its stake in Graco Inc. by 92.7% in the first quarter, owning 65,720 shares valued at approximately $5.49 million.
• Graco reported an EPS of $0.75 for its latest quarter, missing estimates, with revenues of $571.81 million, reflecting a 3.4% year-over-year increase.
• A quarterly dividend of $0.275 per share was declared by Graco, resulting in an annualized dividend yield of 1.3% and a payout ratio of 39.01%.

Vestmark Advisory Solutions Inc. increased its position in Graco Inc. (NYSE:GGG - Free Report) by 92.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,720 shares of the industrial products company's stock after purchasing an additional 31,622 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Graco were worth $5,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GGG. Wood Tarver Financial Group LLC bought a new position in shares of Graco during the fourth quarter valued at approximately $46,000. Golden State Wealth Management LLC boosted its position in Graco by 128.9% during the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 388 shares in the last quarter. National Pension Service boosted its position in Graco by 74.8% during the first quarter. National Pension Service now owns 699 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 299 shares in the last quarter. USA Financial Formulas boosted its holdings in shares of Graco by 43.6% in the 1st quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock valued at $88,000 after buying an additional 321 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Graco in the 1st quarter valued at about $96,000. 93.88% of the stock is currently owned by institutional investors.

Graco Stock Performance

Graco stock traded up $1.11 during midday trading on Tuesday, reaching $86.01. The company's stock had a trading volume of 741,456 shares, compared to its average volume of 821,800. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86. The stock's 50 day simple moving average is $85.64 and its 200 day simple moving average is $84.13. The firm has a market capitalization of $14.25 billion, a PE ratio of 30.50, a P/E/G ratio of 2.85 and a beta of 1.04.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). The firm had revenue of $571.81 million during the quarter, compared to analyst estimates of $590.57 million. Graco had a net margin of 22.26% and a return on equity of 19.05%. The business's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Monday, July 21st were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, July 21st. Graco's payout ratio is presently 39.01%.

Analysts Set New Price Targets

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