GSA Capital Partners LLP Buys New Holdings in Graco Inc. $GGG

GSA Capital Partners LLP purchased a new position in Graco Inc. (NYSE:GGG) in the second quarter, Holdings Channel reports. The fund purchased 11,900 shares of the industrial products company’s stock, valued at approximately $900,000.

A number of other large investors also recently modified their holdings of GGG. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Graco during the 1st quarter worth $26,000. Whipplewood Advisors LLC raised its stake in Graco by 2,650.0% in the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock valued at $28,000 after buying an additional 318 shares in the last quarter. Essential Partners LLC lifted its holdings in Graco by 78.6% during the 1st quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock worth $30,000 after buying an additional 158 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 452 shares in the last quarter. Finally, Field & Main Bank purchased a new position in shares of Graco in the 4th quarter valued at about $41,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Down 0.6%

Shares of GGG stock opened at $81.09 on Wednesday. The stock has a market capitalization of $13.13 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 2.52 and a beta of 0.92. Graco Inc. has a 52-week low of $72.51 and a 52-week high of $95.69. The stock’s 50-day moving average price is $77.33 and its 200 day moving average price is $82.10.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The company had revenue of $590.55 million during the quarter, compared to analysts’ expectations of $608.06 million. During the same period last year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts expect that Graco Inc. will post 3.26 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, July 20th. Graco’s dividend payout ratio is 37.11%.

Analyst Ratings Changes

GGG has been the subject of several recent analyst reports. Wolfe Research cut Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Royal Bank Of Canada boosted their price objective on shares of Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Weiss Ratings upgraded shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. DA Davidson reiterated a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Finally, Robert W. Baird set a $94.00 price objective on shares of Graco in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $95.00.

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.