UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 36,222 Shares of Graco Inc. $GGG

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Graco Inc. (NYSE:GGG) by 3.1% in the second quarter, HoldingsChannel reports. The fund owned 1,208,598 shares of the industrial products company’s stock after purchasing an additional 36,222 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Graco were worth $91,382,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC bought a new stake in Graco in the 1st quarter worth $26,000. Whipplewood Advisors LLC boosted its holdings in shares of Graco by 2,650.0% during the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 318 shares during the period. Essential Partners LLC increased its holdings in Graco by 78.6% during the 1st quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 158 shares during the period. Elevation Wealth Partners LLC increased its holdings in Graco by 2,540.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 508 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in 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 last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

Shares of NYSE:GGG opened at $76.94 on Wednesday. Graco Inc. has a 52-week low of $72.51 and a 52-week high of $95.69. The firm has a market capitalization of $12.46 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.43 and a beta of 0.92. The stock has a 50 day moving average price of $78.25 and a 200-day moving average price of $81.31.

Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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 revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. On average, equities analysts forecast that Graco Inc. will post 3.19 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.18 annualized dividend and a yield of 1.5%. Graco’s dividend payout ratio (DPR) is currently 37.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GGG shares. Royal Bank Of Canada increased their price objective on Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Weiss Ratings upgraded Graco from a “hold (c-)” rating to a “hold (c)” rating in a report 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 shares of Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Finally, Robert W. Baird set a $94.00 price objective on shares of Graco in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.00.

Graco Company 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.