Metis Global Partners LLC Sells 1,322 Shares of Graco Inc. $GGG

Metis Global Partners LLC decreased its position in Graco Inc. (NYSE:GGG) by 16.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,913 shares of the industrial products company’s stock after selling 1,322 shares during the quarter. Metis Global Partners LLC’s holdings in Graco were worth $594,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Wedbush Securities Inc. grew its holdings in Graco by 10.8% in the 2nd quarter. Wedbush Securities Inc. now owns 13,352 shares of the industrial products company’s stock valued at $1,148,000 after buying an additional 1,299 shares in the last quarter. Savant Capital LLC boosted its position in shares of Graco by 416.2% in the second quarter. Savant Capital LLC now owns 12,528 shares of the industrial products company’s stock valued at $1,077,000 after acquiring an additional 10,101 shares during the period. Eukles Asset Management grew its stake in shares of Graco by 1.2% in the second quarter. Eukles Asset Management now owns 19,523 shares of the industrial products company’s stock valued at $1,678,000 after acquiring an additional 226 shares in the last quarter. Andra AP fonden increased its position in Graco by 50.2% during the second quarter. Andra AP fonden now owns 76,000 shares of the industrial products company’s stock worth $6,534,000 after acquiring an additional 25,400 shares during the period. Finally, Sprucegrove Investment Management Ltd. acquired a new stake in Graco in the 2nd quarter worth about $60,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Stock Performance

Shares of GGG opened at $82.55 on Thursday. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.71 and a beta of 1.08. The stock has a fifty day moving average of $83.28 and a 200-day moving average of $84.50.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $543.36 million for the quarter, compared to the consensus estimate of $563.07 million. Graco had a return on equity of 18.89% and a net margin of 22.72%.The company’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, equities analysts forecast that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Monday, October 20th were paid a $0.275 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. Graco’s dividend payout ratio is currently 37.54%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GGG shares. KeyCorp restated a “sector weight” rating on shares of Graco in a research report on Thursday, October 23rd. Robert W. Baird set a $89.00 price target on Graco in a research report on Friday, October 24th. Finally, Weiss Ratings cut Graco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.