Kavar Capital Partners LLC purchased a new stake in shares of Graco Inc. (NYSE:GGG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 853 shares of the industrial products company’s stock, valued at approximately $43,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in GGG. Stephens Inc. AR grew its position in Graco by 5.0% in the second quarter. Stephens Inc. AR now owns 6,440 shares of the industrial products company’s stock worth $323,000 after buying an additional 307 shares during the last quarter. Wedbush Securities Inc. grew its position in Graco by 3.5% in the second quarter. Wedbush Securities Inc. now owns 9,578 shares of the industrial products company’s stock worth $481,000 after buying an additional 321 shares during the last quarter. Stevens Capital Management LP acquired a new position in Graco in the second quarter worth approximately $566,000. Janus Henderson Group PLC grew its position in Graco by 818.7% in the second quarter. Janus Henderson Group PLC now owns 125,957 shares of the industrial products company’s stock worth $6,321,000 after buying an additional 112,247 shares during the last quarter. Finally, Advisor Group Inc. grew its position in Graco by 11.3% in the second quarter. Advisor Group Inc. now owns 22,187 shares of the industrial products company’s stock worth $1,113,000 after buying an additional 2,244 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors.
In other Graco news, insider Jeffrey P. Johnson sold 15,000 shares of Graco stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $48.85, for a total transaction of $732,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.23% of the company’s stock.
NYSE GGG traded up $0.59 on Friday, hitting $45.79. 446,300 shares of the stock were exchanged, compared to its average volume of 563,572. Graco Inc. has a 52-week low of $37.36 and a 52-week high of $53.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.39. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 2.05 and a beta of 0.97. The company’s 50-day moving average price is $48.90 and its two-hundred day moving average price is $48.92.
Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). Graco had a return on equity of 39.22% and a net margin of 20.61%. The firm had revenue of $428.30 million for the quarter, compared to analysts’ expectations of $444.93 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts predict that Graco Inc. will post 1.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.40%. The ex-dividend date was Friday, July 19th. Graco’s payout ratio is 34.04%.
Several research analysts have issued reports on the stock. ValuEngine lowered shares of Graco from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating and set a $49.00 price target on the stock in a research report on Wednesday, May 29th. DA Davidson restated a “neutral” rating on shares of Graco in a research report on Thursday, April 25th. Finally, Robert W. Baird set a $50.00 price target on shares of Graco and gave the stock a “hold” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.50.
Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.
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