Walter Public Investments Inc. Acquires 6,615 Shares of Graco Inc. (NYSE:GGG)

Walter Public Investments Inc. grew its position in Graco Inc. (NYSE:GGG - Free Report) by 5.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 124,638 shares of the industrial products company's stock after acquiring an additional 6,615 shares during the quarter. Graco accounts for about 1.9% of Walter Public Investments Inc.'s holdings, making the stock its 28th largest position. Walter Public Investments Inc. owned 0.07% of Graco worth $10,409,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC increased its holdings in Graco by 118.0% during the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. Wood Tarver Financial Group LLC acquired a new stake in Graco during the 4th quarter valued at $46,000. Golden State Wealth Management LLC increased its holdings in Graco by 128.9% during the 1st 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. Sit Investment Associates Inc. acquired a new stake in Graco during the 4th quarter valued at $80,000. Finally, USA Financial Formulas increased its holdings in Graco by 43.6% during the 1st quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company's stock valued at $88,000 after purchasing an additional 321 shares in the last quarter. Institutional investors own 93.88% of the company's stock.

Graco Price Performance

Shares of NYSE GGG traded up $0.39 during midday trading on Wednesday, hitting $88.55. The stock had a trading volume of 399,856 shares, compared to its average volume of 801,098. The company's 50-day simple moving average is $85.15 and its 200 day simple moving average is $83.88. The firm has a market cap of $14.80 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 2.98 and a beta of 1.06. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Graco had a return on equity of 19.42% and a net margin of 22.70%. The company had revenue of $528.28 million during the quarter, compared to analysts' expectations of $526.98 million. During the same period last year, the firm earned $0.65 EPS. The business's revenue for the quarter was up 7.3% on a year-over-year basis. Equities analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st will be paid a $0.275 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.24%. Graco's dividend payout ratio (DPR) is presently 38.87%.

Wall Street Analyst Weigh In

Separately, Wolfe Research started coverage on Graco in a report on Wednesday, June 18th. They set an "outperform" rating for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $93.00.

Insider Buying and Selling at Graco

In related news, insider David J. Thompson sold 3,588 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the transaction, the insider owned 27,520 shares in the company, valued at approximately $2,373,049.60. The trade was a 11.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.19% of the stock is owned by corporate insiders.

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.