Conestoga Capital Advisors LLC Purchases 9,286 Shares of Graco Inc. $GGG

Conestoga Capital Advisors LLC increased its position in Graco Inc. (NYSE:GGG) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 540,641 shares of the industrial products company’s stock after acquiring an additional 9,286 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Graco were worth $45,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of GGG. Field & Main Bank purchased a new position in Graco in the fourth quarter worth about $41,000. Geneos Wealth Management Inc. grew its stake in shares of Graco by 982.6% during the 1st 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 period. Matrix Trust Co increased its position in shares of Graco by 43.0% during the 4th quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 167 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Graco by 41.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 746 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 219 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Graco in the 4th quarter worth approximately $63,000. Institutional investors own 93.88% of the company’s stock.

Graco Stock Down 0.9%

Shares of GGG opened at $74.94 on Thursday. The business has a 50-day simple moving average of $76.76 and a two-hundred day simple moving average of $83.65. Graco Inc. has a 52 week low of $73.15 and a 52 week high of $95.69. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.44 and a beta of 0.93.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The company had revenue of $540.14 million for the quarter, compared to analysts’ expectations of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share. On average, equities analysts anticipate that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.295 per share. The ex-dividend date is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. Graco’s dividend payout ratio (DPR) is presently 38.44%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GGG shares. Weiss Ratings downgraded shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Robert W. Baird decreased their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. DA Davidson reiterated a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Graco in a research note on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Graco presently has an average rating of “Hold” and an average price target of $94.25.

Insider Buying and Selling

In other news, Director Andrea Helen Simon purchased 1,240 shares of the stock in a transaction on Monday, April 27th. The shares were acquired at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the acquisition, the director directly owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.18% of the company’s stock.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.