Bbva Compass Bancshares Inc. raised its position in shares of Graco Inc. (NYSE:GGG) by 16.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,537 shares of the company’s stock after buying an additional 2,222 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Graco were worth $1,227,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in GGG. Creative Planning increased its position in shares of 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. Park National Corp OH increased its position in shares of 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 shares of 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. Cardinal Capital Management increased its position in shares of Graco by 5.7% in the second quarter. Cardinal Capital Management now owns 5,023 shares of the company’s stock worth $397,000 after buying an additional 270 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Graco by 2.0% in the second quarter. Capstone Asset Management Co. now owns 5,686 shares of the company’s stock worth $449,000 after buying an additional 110 shares in the last quarter. 90.53% of the stock is currently owned by institutional investors.
Shares of Graco Inc. (NYSE:GGG) traded up 1.74% during mid-day trading on Wednesday, reaching $72.62. The company’s stock had a trading volume of 180,047 shares. The company has a 50-day moving average of $73.26 and a 200-day moving average of $77.29. Graco Inc. has a 12 month low of $63.05 and a 12 month high of $86.62. The company has a market cap of $4.04 billion, a P/E ratio of 21.40 and a beta of 1.51.
Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the Zacks’ 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 had revenue of $348.10 million for the quarter, compared to the consensus estimate of $352.49 million. During the same period last year, the business posted $1.05 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Graco Inc. will post $3.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Monday, October 17th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, October 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.85%. Graco’s dividend payout ratio (DPR) is currently 38.94%.
A number of research analysts have recently issued reports on GGG shares. Zacks Investment Research raised Graco from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Deutsche Bank AG started coverage on Graco in a research note on Tuesday, September 6th. They issued a “hold” rating and a $83.00 price objective on the stock. Finally, William Blair downgraded Graco from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $89.00 to $78.00 in a research note on Thursday, July 21st. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $83.75.
In other news, insider Patrick J. Mchale sold 11,500 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $74.19, for a total transaction of $853,185.00. Following the transaction, the insider now directly owns 142,230 shares of the company’s stock, valued at $10,552,043.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.60% of the company’s stock.
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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