AE Wealth Management LLC boosted its position in shares of Graco Inc. (NYSE:GGG – Free Report) by 15.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,487 shares of the industrial products company’s stock after purchasing an additional 7,299 shares during the quarter. AE Wealth Management LLC’s holdings in Graco were worth $4,619,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. ProVise Management Group LLC purchased a new stake in Graco during the first quarter worth $556,000. Daiwa Securities Group Inc. lifted its position in shares of Graco by 18.8% in the first quarter. Daiwa Securities Group Inc. now owns 10,100 shares of the industrial products company’s stock valued at $737,000 after acquiring an additional 1,600 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Graco by 0.5% in the first quarter. Principal Financial Group Inc. now owns 667,644 shares of the industrial products company’s stock valued at $48,745,000 after acquiring an additional 3,141 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Graco by 241.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,878 shares of the industrial products company’s stock valued at $2,254,000 after acquiring an additional 21,840 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co purchased a new stake in shares of Graco in the first quarter valued at $975,000. 84.94% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have recently issued reports on GGG. William Blair restated a “market perform” rating on shares of Graco in a research report on Monday, June 5th. Royal Bank of Canada reduced their price objective on Graco from $94.00 to $91.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Finally, StockNews.com upgraded Graco from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Graco presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.
Graco Trading Down 0.3 %
NYSE GGG opened at $74.74 on Thursday. The business’s 50-day moving average price is $79.05 and its 200 day moving average price is $77.40. Graco Inc. has a twelve month low of $58.17 and a twelve month high of $87.94. The company has a market capitalization of $12.63 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 2.53 and a beta of 0.81.
Graco (NYSE:GGG – Get Free Report) last released its earnings results on Wednesday, July 26th. The industrial products company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). Graco had a return on equity of 25.52% and a net margin of 23.10%. The business had revenue of $559.60 million for the quarter, compared to analysts’ expectations of $576.14 million. During the same quarter last year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities analysts predict that Graco Inc. will post 2.99 EPS for the current year.
Graco Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 16th will be given a dividend of $0.235 per share. The ex-dividend date is Friday, October 13th. This represents a $0.94 annualized dividend and a yield of 1.26%. Graco’s dividend payout ratio (DPR) is presently 31.97%.
Insider Buying and Selling
In other news, CEO Mark W. Sheahan purchased 1,263 shares of the company’s stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $79.04 per share, for a total transaction of $99,827.52. Following the completion of the purchase, the chief executive officer now directly owns 62,986 shares of the company’s stock, valued at approximately $4,978,413.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mark W. Sheahan purchased 1,263 shares of the company’s stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $79.04 per share, for a total transaction of $99,827.52. Following the completion of the purchase, the chief executive officer now directly owns 62,986 shares of the company’s stock, valued at approximately $4,978,413.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sant R. William Van sold 30,870 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $75.08, for a total value of $2,317,719.60. The disclosure for this sale can be found here. 2.98% of the stock is currently owned by company insiders.
About Graco
Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.
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