Graco Inc. $GGG Holdings Decreased by Acadian Asset Management LLC

Acadian Asset Management LLC decreased its holdings in shares of Graco Inc. (NYSE:GGG) by 48.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,702 shares of the industrial products company’s stock after selling 26,857 shares during the period. Acadian Asset Management LLC’s holdings in Graco were worth $2,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GGG. iA Global Asset Management Inc. grew its position in shares of Graco by 5.6% during the 2nd quarter. iA Global Asset Management Inc. now owns 2,651 shares of the industrial products company’s stock valued at $228,000 after buying an additional 140 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Graco by 41.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 141 shares during the period. WCM Investment Management LLC raised its position in shares of Graco by 0.4% during the 2nd quarter. WCM Investment Management LLC now owns 36,629 shares of the industrial products company’s stock worth $3,156,000 after purchasing an additional 156 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of Graco by 2.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 6,347 shares of the industrial products company’s stock worth $530,000 after purchasing an additional 169 shares during the last quarter. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of Graco by 6.9% during the first quarter. Crestwood Advisors Group LLC now owns 3,471 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 223 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GGG. Weiss Ratings cut Graco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Robert W. Baird set a $89.00 price target on Graco in a research report on Friday, October 24th. Finally, KeyCorp restated a “sector weight” rating on shares of Graco in a research note on Thursday, October 23rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

Graco Stock Performance

Shares of NYSE:GGG opened at $80.07 on Friday. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.71 and a beta of 1.08. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.86. The company has a 50 day moving average price of $83.06 and a 200 day moving average price of $84.49.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). Graco had a return on equity of 18.89% and a net margin of 22.72%.The company had revenue of $543.36 million for the quarter, compared to the consensus estimate of $563.07 million. During the same period in the prior year, the business earned $0.71 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Monday, October 20th were paid a $0.275 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.10 dividend on an annualized basis and a yield of 1.4%. Graco’s dividend payout ratio (DPR) is currently 37.54%.

Graco 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.