Vontobel Holding Ltd. Sells 145 Shares of Graco Inc. $GGG

Vontobel Holding Ltd. lessened its stake in Graco Inc. (NYSE:GGG) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,492 shares of the industrial products company’s stock after selling 145 shares during the period. Vontobel Holding Ltd.’s holdings in Graco were worth $214,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. eCIO Inc. bought a new position in Graco in the 1st quarter worth about $32,000. WPG Advisers LLC purchased a new stake in shares of Graco in the first quarter valued at approximately $41,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Graco by 41.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 141 shares during the period. Geneos Wealth Management Inc. boosted its holdings 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 valued at $42,000 after purchasing an additional 452 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Graco by 128.9% in the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 388 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Performance

Shares of NYSE GGG opened at $82.19 on Thursday. The company has a market cap of $13.62 billion, a PE ratio of 29.15, a P/E/G ratio of 2.76 and a beta of 1.07. The business has a 50-day simple moving average of $84.69 and a two-hundred day simple moving average of $84.03. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). The company had revenue of $571.81 million during the quarter, compared to analysts’ expectations of $590.57 million. Graco had a net margin of 22.26% and a return on equity of 19.05%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. On average, sell-side analysts predict that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Monday, October 20th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, October 20th. Graco’s dividend payout ratio is presently 39.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their target price on Graco from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Wolfe Research started coverage on Graco in a research note on Wednesday, June 18th. They set an “outperform” rating on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Graco in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average 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.