Graco Inc. $GGG Shares Acquired by Callan Family Office LLC

Callan Family Office LLC lifted its position in shares of Graco Inc. (NYSE:GGG) by 1,026.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,924 shares of the industrial products company’s stock after acquiring an additional 59,159 shares during the quarter. Callan Family Office LLC’s holdings in Graco were worth $5,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE increased its holdings in Graco by 6.5% in the second quarter. US Bancorp DE now owns 312,160 shares of the industrial products company’s stock valued at $26,836,000 after buying an additional 18,949 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Graco in the 2nd quarter valued at approximately $204,000. KLP Kapitalforvaltning AS increased its stake in Graco by 1.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 59,000 shares of the industrial products company’s stock valued at $5,072,000 after purchasing an additional 1,100 shares in the last quarter. Fenimore Asset Management Inc increased its stake in Graco by 0.7% in the 2nd quarter. Fenimore Asset Management Inc now owns 1,098,618 shares of the industrial products company’s stock valued at $94,448,000 after purchasing an additional 7,822 shares in the last quarter. Finally, Running Oak Capital LLC increased its stake in Graco by 5.2% in the 2nd quarter. Running Oak Capital LLC now owns 185,206 shares of the industrial products company’s stock valued at $15,922,000 after purchasing an additional 9,087 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Price Performance

GGG stock opened at $80.15 on Friday. The company’s 50 day simple moving average is $84.78 and its 200-day simple moving average is $84.08. The firm has a market capitalization of $13.28 billion, a PE ratio of 28.42, a P/E/G ratio of 2.76 and a beta of 1.07. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86.

Graco (NYSE:GGG) last released its quarterly earnings results 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 business had revenue of $571.81 million during the quarter, compared to analyst estimates of $590.57 million. Graco had a net margin of 22.26% and a return on equity of 19.05%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. As a group, sell-side analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Monday, October 20th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.10 annualized dividend and a dividend yield of 1.4%. Graco’s dividend payout ratio is presently 39.01%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GGG shares. Robert W. Baird raised their price objective on Graco from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Graco in a research note on Wednesday. Finally, Wolfe Research initiated coverage on shares of Graco in a research report on Wednesday, June 18th. They issued an “outperform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.50.

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.