Graco Inc. (NYSE:GGG) Shares Sold by USA Financial Formulas

USA Financial Formulas decreased its stake in shares of Graco Inc. (NYSE:GGG) by 14.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 827 shares of the industrial products company’s stock after selling 141 shares during the quarter. USA Financial Formulas’ holdings in Graco were worth $72,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GGG. PineStone Asset Management Inc. boosted its position in shares of Graco by 134.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock valued at $330,532,000 after acquiring an additional 2,390,602 shares during the last quarter. Flossbach Von Storch AG acquired a new stake in shares of Graco during the 1st quarter worth approximately $111,428,000. Confluence Investment Management LLC purchased a new stake in shares of Graco during the 1st quarter valued at approximately $70,891,000. M&G Plc acquired a new position in Graco in the first quarter valued at approximately $44,069,000. Finally, Renaissance Technologies LLC purchased a new position in Graco in the second quarter worth approximately $27,502,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GGG shares. Robert W. Baird lowered their price target on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Royal Bank of Canada dropped their price target on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, DA Davidson reiterated a “neutral” rating and issued a $79.00 target price on shares of Graco in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Graco currently has an average rating of “Hold” and a consensus price target of $90.25.

Graco Stock Performance

NYSE GGG opened at $84.98 on Friday. Graco Inc. has a one year low of $69.78 and a one year high of $94.77. The firm has a 50 day simple moving average of $82.85 and a 200-day simple moving average of $83.31. The firm has a market cap of $14.37 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.88 and a beta of 0.81.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. The business had revenue of $553.20 million during the quarter, compared to the consensus estimate of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Equities analysts predict that Graco Inc. will post 2.98 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Monday, October 21st. Graco’s payout ratio is presently 35.17%.

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.