Oxbow Advisors LLC Makes New Investment in Graco Inc. $GGG

Oxbow Advisors LLC bought a new stake in Graco Inc. (NYSE:GGG) during the 2nd quarter, Holdings Channel reports. The firm bought 39,422 shares of the industrial products company’s stock, valued at approximately $2,981,000.

Several other hedge funds have also made changes to their positions in GGG. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Graco during the 1st quarter worth approximately $26,000. Whipplewood Advisors LLC lifted its holdings in Graco by 2,650.0% in the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 318 shares during the last quarter. Essential Partners LLC lifted its holdings in Graco by 78.6% in the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 158 shares during the last quarter. Elevation Wealth Partners LLC grew its position in Graco by 2,540.0% in the second quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 508 shares during the period. Finally, Field & Main Bank purchased a new position in Graco in the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

NYSE:GGG opened at $81.09 on Wednesday. The stock has a market capitalization of $13.13 billion, a P/E ratio of 25.50, a PEG ratio of 2.52 and a beta of 0.92. The company has a 50 day moving average price of $77.33 and a 200 day moving average price of $82.10. Graco Inc. has a fifty-two week low of $72.51 and a fifty-two week high of $95.69.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. The company had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. Graco had a return on equity of 19.54% and a net margin of 23.53%.The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 earnings per share. Research analysts forecast that Graco Inc. will post 3.26 earnings per share for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were paid a $0.295 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. Graco’s payout ratio is presently 37.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GGG shares. Weiss Ratings raised Graco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. DA Davidson reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Wolfe Research cut Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Robert W. Baird set a $94.00 price objective on Graco in a research report on Friday, July 24th. Finally, Royal Bank Of Canada boosted their price objective on shares of Graco from $92.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $95.00.

Graco Profile

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.