Graco Inc. $GGG Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its holdings in shares of Graco Inc. (NYSE:GGG) by 2.6% during the second quarter, HoldingsChannel reports. The fund owned 58,387 shares of the industrial products company’s stock after selling 1,577 shares during the period. Yousif Capital Management LLC’s holdings in Graco were worth $5,019,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. eCIO Inc. acquired a new position in Graco during the first quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Graco by 41.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 141 shares during the period. WPG Advisers LLC acquired a new stake in Graco in the first quarter valued at $41,000. Geneos Wealth Management Inc. grew its holdings in Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 452 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new stake in Graco in the second quarter valued at $51,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Graco in a report on Wednesday, October 8th. Wolfe Research assumed coverage on Graco in a report on Wednesday, June 18th. They issued an “outperform” rating on the stock. Finally, Robert W. Baird upped their target price on Graco from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $94.50.

Graco Stock Up 1.3%

Shares of NYSE:GGG opened at $82.04 on Wednesday. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $92.86. The stock’s fifty day simple moving average is $84.71 and its 200-day simple moving average is $84.04. The company has a market capitalization of $13.59 billion, a P/E ratio of 29.09, a P/E/G ratio of 2.73 and a beta of 1.07.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The company had revenue of $571.81 million during the quarter, compared to analysts’ expectations of $590.57 million. During the same quarter in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Monday, October 20th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, October 20th. Graco’s dividend payout ratio is currently 39.01%.

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 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.