193,534 Shares in Graco Inc. $GGG Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Graco Inc. (NYSE:GGG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 193,534 shares of the industrial products company’s stock, valued at approximately $14,633,000.

Several other institutional investors have also bought and sold shares of GGG. Cassaday & Co Wealth Management LLC purchased a new stake in Graco during the first quarter valued at about $26,000. Whipplewood Advisors LLC increased its stake in shares of Graco by 2,650.0% in the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Essential Partners LLC raised its position in shares of Graco by 78.6% in the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 158 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 452 shares during the period. Finally, Field & Main Bank purchased a new stake in shares of Graco during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Down 1.1%

NYSE GGG opened at $81.77 on Friday. The stock’s 50-day simple moving average is $77.66 and its two-hundred day simple moving average is $82.03. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69. The company has a market capitalization of $13.24 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 2.54 and a beta of 0.92.

Graco (NYSE:GGG) last announced 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. The firm had revenue of $590.55 million during the quarter, compared to analyst estimates of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 EPS. On average, equities analysts expect that Graco Inc. will post 3.26 earnings per share for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, July 20th. Graco’s payout ratio is currently 37.11%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings raised 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 objective on shares of Graco in a research note on Monday, July 27th. Robert W. Baird set a $94.00 price objective on Graco in a report on Friday, July 24th. Royal Bank Of Canada raised their target price on Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Wolfe Research lowered Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.