WealthPLAN Partners LLC reduced its stake in shares of Graco Inc. (NYSE:GGG – Free Report) by 28.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 24,784 shares of the industrial products company’s stock after selling 10,017 shares during the quarter. WealthPLAN Partners LLC’s holdings in Graco were worth $2,098,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GGG. Mercer Global Advisors Inc. ADV lifted its holdings in Graco by 0.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock worth $1,745,000 after buying an additional 109 shares in the last quarter. Stonebridge Capital Advisors LLC increased its stake in shares of Graco by 0.3% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after buying an additional 119 shares during the period. ICW Investment Advisors LLC raised its position in shares of Graco by 5.2% during the second quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company’s stock worth $234,000 after acquiring an additional 135 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Graco by 5.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 139 shares during the last quarter. Finally, Root Financial Partners LLC lifted its stake in shares of Graco by 43.2% during the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.
Insider Activity at Graco
In other news, Director Andrea Helen Simon acquired 1,240 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the transaction, the director directly owned 1,240 shares in the company, valued at approximately $99,857.20. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 2.18% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on Graco
Graco Trading Down 0.6%
Shares of GGG opened at $75.19 on Wednesday. Graco Inc. has a 1 year low of $73.15 and a 1 year high of $95.69. The stock has a market cap of $12.48 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 2.44 and a beta of 0.93. The stock’s 50-day moving average price is $76.05 and its two-hundred day moving average price is $83.42.
Graco (NYSE:GGG – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The company had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. During the same period last year, the company earned $0.70 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Graco Inc. will post 3.1 EPS for the current year.
Graco Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be issued a $0.295 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 annualized dividend and a dividend yield of 1.6%. Graco’s payout ratio is 38.44%.
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.
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