First Mercantile Trust Co. held its position in shares of Graco Inc. (NYSE:GGG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,810 shares of the company’s stock at the end of the second quarter. First Mercantile Trust Co.’s holdings in Graco were worth $301,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in GGG. Creative Planning increased its position in Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock worth $107,000 after buying an additional 165 shares in the last quarter. Princeton Alpha Management LP acquired a new position in Graco during the second quarter worth approximately $204,000. Park National Corp OH increased its position in Graco by 0.4% in the second quarter. Park National Corp OH now owns 2,733 shares of the company’s stock worth $216,000 after buying an additional 11 shares in the last quarter. LS Investment Advisors LLC increased its position in Graco by 73.9% in the second quarter. LS Investment Advisors LLC now owns 3,447 shares of the company’s stock worth $272,000 after buying an additional 1,465 shares in the last quarter. Finally, Wesbanco Bank Inc. increased its position in Graco by 41.2% in the second quarter. Wesbanco Bank Inc. now owns 3,910 shares of the company’s stock worth $309,000 after buying an additional 1,140 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Graco Inc. (NYSE:GGG) opened at 74.00 on Friday. The firm has a market capitalization of $4.12 billion, a P/E ratio of 21.81 and a beta of 1.54. The company has a 50-day moving average of $74.00 and a 200 day moving average of $78.26. Graco Inc. has a 52 week low of $63.05 and a 52 week high of $86.62.
Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.00 by $0.11. Graco had a net margin of 15.01% and a return on equity of 30.04%. The company earned $348.10 million during the quarter, compared to the consensus estimate of $352.49 million. During the same period last year, the firm posted $1.05 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Graco Inc. will post $3.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, October 13th. Graco’s dividend payout ratio (DPR) is currently 38.94%.
A number of equities analysts have recently commented on GGG shares. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Deutsche Bank AG started coverage on shares of Graco in a research note on Tuesday, September 6th. They set a “hold” rating and a $83.00 price objective for the company. Finally, William Blair downgraded shares of Graco from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $89.00 to $78.00 in a research note on Thursday, July 21st. Nine investment analysts have rated the stock with a hold rating, Graco currently has a consensus rating of “Hold” and an average price target of $83.75.
In other Graco news, insider Patrick J. Mchale sold 11,500 shares of Graco stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $74.19, for a total value of $853,185.00. Following the completion of the sale, the insider now directly owns 142,230 shares of the company’s stock, valued at $10,552,043.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.60% of the stock is currently owned by company insiders.
Graco Company Profile
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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