SG Americas Securities LLC Has $449,000 Position in Graco Inc. (NYSE:GGG)

SG Americas Securities LLC lowered its position in shares of Graco Inc. (NYSE:GGG) by 92.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,132 shares of the industrial products company’s stock after selling 61,303 shares during the quarter. SG Americas Securities LLC’s holdings in Graco were worth $449,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GGG. PineStone Asset Management Inc. grew its holdings in Graco by 134.4% during the second quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock valued at $330,532,000 after purchasing an additional 2,390,602 shares during the period. Flossbach Von Storch AG acquired a new position in Graco during the first quarter valued at approximately $111,428,000. M&G Plc acquired a new position in Graco during the first quarter valued at approximately $44,069,000. Renaissance Technologies LLC acquired a new position in Graco during the second quarter valued at approximately $27,502,000. Finally, Hsbc Holdings PLC grew its holdings in Graco by 54.2% during the second quarter. Hsbc Holdings PLC now owns 814,321 shares of the industrial products company’s stock valued at $64,502,000 after purchasing an additional 286,212 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Down 0.4 %

Shares of GGG stock opened at $86.09 on Thursday. The company’s fifty day simple moving average is $83.41 and its 200-day simple moving average is $83.04. The firm has a market cap of $14.56 billion, a PE ratio of 29.69, a P/E/G ratio of 2.88 and a beta of 0.81. Graco Inc. has a 12 month low of $69.78 and a 12 month high of $94.77.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The business 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 for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, equities analysts predict that Graco Inc. will post 2.98 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders 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 dividend yield of 1.18%. The ex-dividend date is Monday, October 21st. Graco’s dividend payout ratio is presently 35.17%.

Wall Street Analyst Weigh In

GGG has been the topic of a number of research reports. Robert W. Baird cut their price target on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Royal Bank of Canada cut their price target on shares of Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $79.00 price target on shares of Graco in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Graco has a consensus rating of “Hold” and an average price target of $90.25.

Graco Company Profile

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.