Elo Mutual Pension Insurance Co Lowers Holdings in Graco Inc. (NYSE:GGG)

Elo Mutual Pension Insurance Co decreased its position in Graco Inc. (NYSE:GGG) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,412 shares of the industrial products company’s stock after selling 1,010 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Graco were worth $1,143,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC raised its holdings in Graco by 5.5% during the second quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 120 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Graco by 7.1% during the second quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 134 shares in the last quarter. iA Global Asset Management Inc. raised its holdings in Graco by 8.8% during the second quarter. iA Global Asset Management Inc. now owns 1,687 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 136 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Graco by 1.9% in the 1st quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock valued at $700,000 after acquiring an additional 139 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Graco by 6.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 141 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GGG shares. StockNews.com cut shares of Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Royal Bank of Canada cut their target price on shares of Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. DA Davidson cut their target price on shares of Graco from $82.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Robert W. Baird cut their target price on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Graco presently has an average rating of “Hold” and a consensus price target of $86.80.

Graco Price Performance

NYSE:GGG opened at $84.52 on Friday. The firm’s fifty day moving average price is $81.96 and its 200 day moving average price is $84.04. Graco Inc. has a 1-year low of $69.78 and a 1-year high of $94.77. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Graco had a net margin of 23.16% and a return on equity of 22.40%. The firm had revenue of $553.20 million for the quarter, compared to analyst estimates of $562.27 million. During the same period last year, the firm posted $0.75 EPS. Graco’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, analysts expect that Graco Inc. will post 2.98 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be given a $0.255 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a yield of 1.21%. Graco’s dividend payout ratio (DPR) is 35.17%.

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.