AlphaQuest LLC Lowers Stake in Graco Inc. $GGG

AlphaQuest LLC decreased its position in Graco Inc. (NYSE:GGG) by 93.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,429 shares of the industrial products company’s stock after selling 20,840 shares during the quarter. AlphaQuest LLC’s holdings in Graco were worth $121,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new stake in shares of Graco in the 3rd quarter valued at $29,000. NewSquare Capital LLC boosted its holdings in Graco by 320.7% during the 2nd quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 263 shares during the period. CX Institutional grew its position in Graco by 316.7% in the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 361 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in Graco by 116.9% during the third quarter. TD Private Client Wealth LLC now owns 514 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 277 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Graco

In other Graco news, Director J Kevin Gilligan sold 12,870 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $89.07, for a total transaction of $1,146,330.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kathryn L. Schoenrock sold 2,223 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $88.06, for a total transaction of $195,757.38. Following the completion of the sale, the executive vice president directly owned 7,846 shares of the company’s stock, valued at $690,918.76. The trade was a 22.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 19,394 shares of company stock valued at $1,739,326. Insiders own 2.19% of the company’s stock.

Graco Stock Performance

GGG opened at $94.61 on Friday. Graco Inc. has a one year low of $72.06 and a one year high of $95.69. The stock has a market capitalization of $15.69 billion, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 2.96 and a beta of 1.08. The business’s 50-day simple moving average is $86.21 and its 200-day simple moving average is $84.40.

Graco (NYSE:GGG) last announced its earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. The firm had revenue of $593.16 million during the quarter, compared to analysts’ expectations of $591.99 million. Graco had a return on equity of 19.49% and a net margin of 23.33%.The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities research analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco announced that its board has approved a stock buyback plan on Friday, December 5th that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Graco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Monday, January 19th were given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Graco’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, January 16th. Graco’s payout ratio is 38.19%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GGG. Royal Bank Of Canada lifted their price objective on shares of Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Weiss Ratings raised shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. KeyCorp reaffirmed a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. DA Davidson reiterated a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, February 2nd. Finally, Robert W. Baird set a $96.00 target price on Graco in a report on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.50.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.