Squarepoint Ops LLC Has $2.83 Million Stake in Graco Inc. $GGG

Squarepoint Ops LLC lowered its position in shares of Graco Inc. (NYSE:GGG) by 84.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,931 shares of the industrial products company’s stock after selling 178,035 shares during the period. Squarepoint Ops LLC’s holdings in Graco were worth $2,831,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Generali Asset Management SPA SGR acquired a new stake in Graco during the 2nd quarter worth approximately $3,806,000. WealthPlan Investment Management LLC raised its stake in shares of Graco by 10.6% during the second quarter. WealthPlan Investment Management LLC now owns 129,189 shares of the industrial products company’s stock valued at $11,106,000 after acquiring an additional 12,352 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Graco by 82.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 180,509 shares of the industrial products company’s stock valued at $16,027,000 after acquiring an additional 81,706 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Graco by 572.1% during the first quarter. Millennium Management LLC now owns 437,661 shares of the industrial products company’s stock worth $36,549,000 after purchasing an additional 372,543 shares during the period. Finally, World Investment Advisors bought a new stake in shares of Graco in the second quarter worth $472,000. 93.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GGG shares. Weiss Ratings lowered Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. KeyCorp restated a “sector weight” rating on shares of Graco in a research report on Thursday, October 23rd. Finally, Robert W. Baird set a $89.00 price objective on Graco in a research note on Friday, October 24th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

Graco Trading Up 0.5%

GGG stock opened at $83.13 on Thursday. The firm has a market cap of $13.78 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 2.78 and a beta of 1.09. The stock has a 50-day moving average price of $81.89 and a 200-day moving average price of $84.14. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $89.67.

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

Graco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Monday, January 19th will be given a dividend of $0.295 per share. This is a positive change from Graco’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, January 16th. This represents a $1.18 annualized dividend and a dividend yield of 1.4%. Graco’s payout ratio is 37.54%.

Graco declared that its board has initiated a share buyback plan on Friday, December 5th that authorizes the company to buyback 15,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.