D.B. Root & Company LLC Decreases Stake in Graco Inc. (NYSE:GGG)

D.B. Root & Company LLC decreased its holdings in shares of Graco Inc. (NYSE:GGG) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,801 shares of the industrial products company’s stock after selling 620 shares during the quarter. D.B. Root & Company LLC’s holdings in Graco were worth $1,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Tobam increased its stake in shares of Graco by 2,330.8% in the 4th quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 303 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Graco in the fourth quarter valued at about $28,000. Fortitude Family Office LLC purchased a new stake in shares of Graco in the 4th quarter valued at approximately $29,000. Rise Advisors LLC acquired a new position in shares of Graco in the 1st quarter worth approximately $38,000. Finally, Northwest Financial Advisors acquired a new stake in Graco in the 4th quarter valued at approximately $50,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Trading Up 0.0 %

Shares of GGG stock traded up $0.03 on Friday, reaching $79.28. 2,471,358 shares of the stock were exchanged, compared to its average volume of 871,062. The company has a market capitalization of $13.41 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.60 and a beta of 0.82. The business’s 50 day moving average price is $81.44 and its 200 day moving average price is $86.03. Graco Inc. has a twelve month low of $69.78 and a twelve month high of $94.77.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.09). The business had revenue of $492.19 million for the quarter, compared to analyst estimates of $536.19 million. Graco had a return on equity of 23.01% and a net margin of 23.15%. Graco’s revenue was down 7.1% on a year-over-year basis. During the same period last year, the business posted $0.74 EPS. Equities research analysts forecast that Graco Inc. will post 3.05 earnings per share for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Monday, July 22nd will be given a $0.255 dividend. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.29%. Graco’s dividend payout ratio (DPR) is presently 35.17%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Robert W. Baird decreased their target price on Graco from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. William Blair reaffirmed a “market perform” rating on shares of Graco in a research note on Friday, April 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $103.00 price target on shares of Graco in a research report on Thursday. Finally, StockNews.com lowered Graco from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $90.75.

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.