MBB Public Markets I LLC Buys Shares of 10,448 Graco Inc. (NYSE:GGG)

MBB Public Markets I LLC purchased a new position in shares of Graco Inc. (NYSE:GGG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,448 shares of the industrial products company’s stock, valued at approximately $828,000.

Several other hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC lifted its holdings in Graco by 1,010.8% during the 1st quarter. SG Americas Securities LLC now owns 55,886 shares of the industrial products company’s stock worth $5,223,000 after purchasing an additional 50,855 shares during the last quarter. Vident Advisory LLC boosted its position in shares of Graco by 567.4% in the first quarter. Vident Advisory LLC now owns 42,899 shares of the industrial products company’s stock valued at $4,009,000 after acquiring an additional 36,471 shares during the period. Secured Retirement Advisors LLC acquired a new position in shares of Graco in the fourth quarter valued at about $1,606,000. TD Asset Management Inc increased its position in Graco by 14.5% during the first quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock worth $134,618,000 after acquiring an additional 182,470 shares during the period. Finally, M&G Plc raised its stake in Graco by 2.0% in the 2nd quarter. M&G Plc now owns 483,535 shares of the industrial products company’s stock worth $38,199,000 after purchasing an additional 9,673 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Trading Down 1.2 %

NYSE GGG opened at $86.42 on Wednesday. The company has a fifty day simple moving average of $82.54 and a 200 day simple moving average of $83.55. Graco Inc. has a 12-month low of $69.78 and a 12-month high of $94.77. The company has a market cap of $14.62 billion, a P/E ratio of 29.80, a PEG ratio of 2.88 and a beta of 0.81.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The company had revenue of $553.20 million for the quarter, compared to analyst estimates of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 EPS. Sell-side analysts predict that Graco Inc. will post 2.98 EPS for the current year.

Graco Dividend Announcement

The business also recently declared 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. This represents a $1.02 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Monday, October 21st. Graco’s payout ratio is currently 35.17%.

Analyst Ratings Changes

Several brokerages recently issued reports on GGG. Robert W. Baird cut their price target on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. DA Davidson restated a “neutral” rating and issued a $79.00 price target on shares of Graco in a research report on Friday, September 27th. StockNews.com downgraded shares of Graco from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada dropped their target price on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Graco has a consensus rating of “Hold” and an average target price of $86.80.

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.