4,830 Shares in Graco Inc. (NYSE:GGG) Acquired by S Bank Fund Management Ltd

S Bank Fund Management Ltd acquired a new position in shares of Graco Inc. (NYSE:GGG) during the first quarter, HoldingsChannel.com reports. The firm acquired 4,830 shares of the industrial products company’s stock, valued at approximately $403,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new position in Graco during the fourth quarter worth approximately $46,000. Golden State Wealth Management LLC raised its position in Graco by 128.9% in the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 388 shares during the period. National Pension Service raised its position in Graco by 74.8% in the first quarter. National Pension Service now owns 699 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 299 shares during the period. USA Financial Formulas raised its position in Graco by 43.6% in the first quarter. USA Financial Formulas now owns 1,057 shares of the industrial products company’s stock valued at $88,000 after purchasing an additional 321 shares during the period. Finally, ASR Vermogensbeheer N.V. purchased a new stake in Graco in the first quarter valued at $140,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Up 2.6%

NYSE:GGG opened at $87.59 on Thursday. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The stock’s fifty day moving average is $85.63 and its two-hundred day moving average is $84.11. The company has a market capitalization of $14.51 billion, a P/E ratio of 31.06, a P/E/G ratio of 2.89 and a beta of 1.04.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The firm had revenue of $571.81 million during the quarter, compared to analyst estimates of $590.57 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were paid a $0.275 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Graco’s payout ratio is presently 39.01%.

Wall Street Analyst Weigh In

GGG has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on Graco in a research report on Wednesday, June 18th. They issued an “outperform” rating on the stock. Robert W. Baird lifted their target price on Graco from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.50.

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.