Choreo LLC Sells 6,073 Shares of Graco Inc. $GGG

Choreo LLC trimmed its position in shares of Graco Inc. (NYSE:GGG) by 65.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,175 shares of the industrial products company’s stock after selling 6,073 shares during the quarter. Choreo LLC’s holdings in Graco were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Entropy Technologies LP grew its holdings in shares of Graco by 59.4% during the first quarter. Entropy Technologies LP now owns 16,677 shares of the industrial products company’s stock worth $1,393,000 after purchasing an additional 6,216 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Graco by 1.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,069,869 shares of the industrial products company’s stock valued at $89,345,000 after buying an additional 14,903 shares during the last quarter. Generali Asset Management SPA SGR acquired a new position in Graco during the 2nd quarter worth about $3,806,000. WealthPlan Investment Management LLC grew its holdings in Graco by 10.6% during the 2nd quarter. WealthPlan Investment Management LLC now owns 129,189 shares of the industrial products company’s stock worth $11,106,000 after acquiring an additional 12,352 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Graco by 82.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 180,509 shares of the industrial products company’s stock worth $16,027,000 after acquiring an additional 81,706 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Trading Down 0.0%

Shares of GGG opened at $83.39 on Friday. The stock has a market cap of $13.82 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 2.80 and a beta of 1.09. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $91.00. The stock’s 50-day moving average price is $82.13 and its two-hundred day moving average price is $84.24.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $543.36 million during the quarter, compared to analyst estimates of $563.07 million. Graco had a net margin of 22.72% and a return on equity of 18.89%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, equities analysts forecast that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Monday, October 20th were issued a $0.275 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. Graco’s payout ratio is 37.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GGG shares. Robert W. Baird set a $89.00 target price on shares of Graco in a research report on Friday, October 24th. Weiss Ratings downgraded shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Graco in a research report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Graco presently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

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.