Maren Capital LLC Has $77.14 Million Position in Graco Inc. $GGG

Maren Capital LLC lifted its holdings in Graco Inc. (NYSE:GGG) by 30.5% during the second quarter, HoldingsChannel reports. The firm owned 1,020,271 shares of the industrial products company’s stock after purchasing an additional 238,487 shares during the period. Graco comprises 3.6% of Maren Capital LLC’s investment portfolio, making the stock its 12th biggest position. Maren Capital LLC’s holdings in Graco were worth $77,143,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Graco in the second quarter worth $16,632,000. Northwestern Mutual Wealth Management Co. raised its stake in Graco by 20,706.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock valued at $45,605,000 after purchasing an additional 553,688 shares during the last quarter. Oxbow Advisors LLC acquired a new position in Graco during the 4th quarter valued at $3,157,000. Renaissance Technologies LLC boosted its holdings in Graco by 87.7% in the 1st quarter. Renaissance Technologies LLC now owns 721,700 shares of the industrial products company’s stock valued at $61,092,000 after purchasing an additional 337,300 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Graco in the 2nd quarter valued at $100,157,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Price Performance

Shares of GGG stock opened at $77.93 on Friday. The stock’s fifty day simple moving average is $78.38 and its 200 day simple moving average is $81.05. Graco Inc. has a one year low of $72.51 and a one year high of $95.69. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 2.44 and a beta of 0.92.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10. The firm had revenue of $590.55 million during 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 business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. On average, research analysts anticipate that Graco Inc. will post 3.19 earnings per share for the current year.

Graco Announces Dividend

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

Wall Street Analyst Weigh In

GGG has been the topic of several research reports. Robert W. Baird set a $94.00 price objective on shares of Graco in a report on Friday, July 24th. Wolfe Research cut shares of Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Royal Bank Of Canada lifted their target price on Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded Graco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Graco in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus 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.