Cwm LLC Increases Position in Graco Inc. (NYSE:GGG)

Cwm LLC grew its holdings in shares of Graco Inc. (NYSE:GGG) by 72.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,908 shares of the industrial products company’s stock after purchasing an additional 1,221 shares during the period. Cwm LLC’s holdings in Graco were worth $243,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wood Tarver Financial Group LLC purchased a new position in Graco during the fourth quarter valued at $46,000. Golden State Wealth Management LLC increased its holdings in shares of Graco by 128.9% during the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 388 shares in the last quarter. Sit Investment Associates Inc. purchased a new position in shares of Graco in the 4th quarter worth about $80,000. USA Financial Formulas boosted its stake in Graco by 43.6% in the 1st quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company’s stock worth $88,000 after purchasing an additional 321 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Graco by 21.1% in the 1st quarter. Fifth Third Bancorp now owns 1,834 shares of the industrial products company’s stock worth $153,000 after purchasing an additional 319 shares in the last quarter. 93.88% of the stock is owned by institutional investors.

Insider Activity at Graco

In other Graco news, insider David J. Thompson sold 3,588 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total value of $309,393.24. Following the transaction, the insider owned 27,520 shares of the company’s stock, valued at approximately $2,373,049.60. This represents a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.19% of the stock is owned by insiders.

Graco Stock Performance

GGG opened at $84.54 on Friday. The company’s 50-day simple moving average is $85.79 and its two-hundred day simple moving average is $84.12. The stock has a market capitalization of $14.01 billion, a P/E ratio of 29.98, a P/E/G ratio of 2.86 and a beta of 1.06. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $92.86.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The company had revenue of $571.81 million for the quarter, compared to the consensus estimate of $590.57 million. During the same quarter last year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, July 21st will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, July 21st. Graco’s payout ratio is currently 38.87%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GGG shares. Wolfe Research began coverage on shares of Graco in a report on Wednesday, June 18th. They issued an “outperform” rating for the company. Robert W. Baird raised their price target on shares of Graco from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.50.

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.