Mutual of America Capital Management LLC Has $9.22 Million Holdings in Graco Inc. $GGG

Mutual of America Capital Management LLC boosted its position in shares of Graco Inc. (NYSE:GGG) by 15.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,502 shares of the industrial products company’s stock after acquiring an additional 14,808 shares during the period. Mutual of America Capital Management LLC’s holdings in Graco were worth $9,218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Root Financial Partners LLC bought a new stake in Graco during the 3rd quarter valued at approximately $29,000. NewSquare Capital LLC lifted its holdings in shares of Graco by 320.7% during the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after buying an additional 263 shares during the last quarter. CX Institutional boosted its position in shares of Graco by 316.7% in the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 361 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 452 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its position in Graco by 116.9% during the third quarter. TD Private Client Wealth LLC now owns 514 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 277 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of Graco in a research report on Thursday, January 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Graco in a research report on Thursday. Robert W. Baird set a $89.00 price target on Graco in a report on Friday, October 24th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Graco in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Graco currently has an average rating of “Hold” and a consensus target price of $87.00.

Key Graco News

Here are the key news stories impacting Graco this week:

• Positive Sentiment: Record quarterly and full?year sales with strong margin expansion — operating earnings and net income increased ~22% and the company called out record sales for the quarter and year, supporting a constructive fundamental picture. Business Wire — Graco Finishes Year with Record Quarterly and Annual Sales
• Positive Sentiment: Year?over?year revenue and EPS growth — revenue roughly $593M (+8.1% YoY) and EPS improved from $0.64 to $0.77, showing top?line momentum and operating leverage that can support valuation. Press Release / Slide Deck
• Neutral Sentiment: Earnings broadly in line with expectations — most outlets report Q4 EPS of $0.77, matching consensus, which is neutral for the stock since beats tend to move shares more than prints that meet estimates. Zacks — Q4 Earnings vs Estimates
• Neutral Sentiment: No material forward guidance change disclosed in headlines — absence or conservatism in guidance could keep the move muted until conference?call color on orders and end markets. Business Wire — Release
• Negative Sentiment: Slight revenue miss in some datafeeds — one report notes revenue narrowly missed a third?party estimate (?$593.2M vs ~$595.7M), which can temper upside in a market that rewards beats. QuiverQuant — Q4 Results & Slight Revenue Miss
• Negative Sentiment: Recent insider selling called out in filings — a small number of insider sales were reported, which some investors view as a mild negative signal. QuiverQuant — Insider Activity

Graco Stock Up 0.3%

NYSE:GGG opened at $86.79 on Tuesday. The firm has a market capitalization of $14.39 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.73 and a beta of 1.09. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $89.67. The firm has a 50-day moving average price of $83.66 and a 200 day moving average price of $83.92.

Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $593.16 million for the quarter, compared to analyst estimates of $591.99 million. Graco had a return on equity of 18.89% and a net margin of 22.72%.The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 EPS. On average, research analysts expect that Graco Inc. will post 3.06 EPS for the current year.

Graco declared that its Board of Directors has initiated a stock repurchase plan on Friday, December 5th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Graco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Monday, January 19th will be paid a dividend of $0.295 per share. This is an increase from Graco’s previous quarterly dividend of $0.28. This represents a $1.18 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, January 16th. Graco’s dividend payout ratio is currently 40.27%.

Graco Profile

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.