Wealth Enhancement Advisory Services LLC Purchases 3,550 Shares of Graco Inc. (NYSE:GGG)

Wealth Enhancement Advisory Services LLC raised its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,803 shares of the industrial products company's stock after acquiring an additional 3,550 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Graco worth $8,251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. TD Private Client Wealth LLC increased its position in Graco by 118.0% during the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after acquiring an additional 190 shares during the period. National Pension Service bought a new position in shares of Graco during the 4th quarter worth about $34,000. Whipplewood Advisors LLC bought a new position in shares of Graco during the 4th quarter worth about $37,000. Wood Tarver Financial Group LLC acquired a new position in shares of Graco during the fourth quarter valued at about $46,000. Finally, Sit Investment Associates Inc. bought a new stake in shares of Graco in the fourth quarter valued at about $80,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Price Performance

Shares of GGG stock opened at $85.38 on Tuesday. The stock has a market cap of $14.27 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 2.84 and a beta of 1.07. The stock has a 50-day moving average of $83.32 and a 200-day moving average of $83.84. Graco Inc. has a one year low of $72.06 and a one year high of $92.86.

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

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders 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 annualized dividend and a yield of 1.29%. Graco's payout ratio is currently 38.87%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the transaction, the insider now directly owns 27,520 shares in the company, valued at approximately $2,373,049.60. The trade was a 11.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.19% of the company's stock.

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.

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