Atria Wealth Solutions Inc. Raises Position in Graco Inc. (NYSE:GGG)

Atria Wealth Solutions Inc. boosted its position in shares of Graco Inc. (NYSE:GGG) by 23.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,304 shares of the industrial products company’s stock after buying an additional 3,116 shares during the period. Atria Wealth Solutions Inc.’s holdings in Graco were worth $1,415,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Tobam lifted its stake in shares of Graco by 2,330.8% in the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after buying an additional 303 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Graco in the 4th quarter valued at about $28,000. Fortitude Family Office LLC purchased a new position in Graco in the 4th quarter worth approximately $29,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Graco by 3,063.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 582 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Graco by 370.7% in the third quarter. Larson Financial Group LLC now owns 626 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 493 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Performance

Graco stock opened at $80.32 on Thursday. The company’s 50 day simple moving average is $90.75 and its 200-day simple moving average is $85.12. Graco Inc. has a 1 year low of $69.78 and a 1 year high of $94.77. The company has a market capitalization of $13.59 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 2.68 and a beta of 0.81.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Graco had a net margin of 23.15% and a return on equity of 23.01%. The firm had revenue of $492.19 million during the quarter, compared to analysts’ expectations of $536.19 million. During the same period in the previous year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Friday, April 12th. Graco’s payout ratio is 35.17%.

Insider Activity at Graco

In other Graco news, insider Timothy R. White sold 2,895 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $87.49, for a total transaction of $253,283.55. Following the sale, the insider now directly owns 50,782 shares in the company, valued at $4,442,917.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Timothy R. White sold 2,895 shares of Graco stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $87.49, for a total value of $253,283.55. Following the completion of the transaction, the insider now owns 50,782 shares in the company, valued at $4,442,917.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Angela F. Wordell sold 3,588 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total transaction of $335,836.80. Following the sale, the vice president now owns 12,725 shares in the company, valued at $1,191,060. The disclosure for this sale can be found here. Insiders sold 48,378 shares of company stock worth $4,376,528 in the last three months. 2.63% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GGG shares. StockNews.com lowered Graco from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. William Blair restated a “market perform” rating on shares of Graco in a research report on Friday, April 26th. Royal Bank of Canada lifted their target price on shares of Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Jefferies Financial Group increased their price target on shares of Graco from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Robert W. Baird reduced their price target on shares of Graco from $90.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $88.25.

About Graco

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.