Entropy Technologies LP Increases Stake in Graco Inc. $GGG

Entropy Technologies LP boosted its stake in Graco Inc. (NYSE:GGG) by 31.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,981 shares of the industrial products company’s stock after purchasing an additional 6,908 shares during the period. Entropy Technologies LP’s holdings in Graco were worth $2,376,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GGG. Arrowstreet Capital Limited Partnership raised its holdings in Graco by 89.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 528,346 shares of the industrial products company’s stock worth $43,309,000 after purchasing an additional 249,070 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of Graco by 0.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 103,856 shares of the industrial products company’s stock valued at $8,513,000 after buying an additional 342 shares during the period. Kestra Advisory Services LLC increased its position in shares of Graco by 5.9% during the fourth quarter. Kestra Advisory Services LLC now owns 28,837 shares of the industrial products company’s stock valued at $2,364,000 after buying an additional 1,608 shares during the period. Marshall Wace LLP raised its stake in Graco by 22.9% in the fourth quarter. Marshall Wace LLP now owns 395,915 shares of the industrial products company’s stock worth $32,453,000 after buying an additional 73,734 shares in the last quarter. Finally, Bridgewater Associates LP raised its stake in Graco by 23.0% in the fourth quarter. Bridgewater Associates LP now owns 129,755 shares of the industrial products company’s stock worth $10,636,000 after buying an additional 24,265 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Stock Up 0.8%

Graco stock opened at $75.19 on Tuesday. Graco Inc. has a twelve month low of $73.26 and a twelve month high of $95.69. The company has a market capitalization of $12.48 billion, a P/E ratio of 24.49, a PEG ratio of 2.40 and a beta of 0.93. The stock’s 50 day moving average is $79.38 and its 200 day moving average is $84.25.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The company had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. During the same period last year, the firm posted $0.70 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, July 20th. Graco’s dividend payout ratio (DPR) is currently 38.44%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GGG shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Graco in a research report on Friday, April 24th. Weiss Ratings cut Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. DA Davidson restated a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday, April 27th. Finally, Robert W. Baird decreased their price objective on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.25.

Insider Buying and Selling at Graco

In other Graco news, Director Andrea Helen Simon acquired 1,240 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average cost of $80.53 per share, with a total value of $99,857.20. Following the completion of the transaction, the director directly owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.18% of the stock is owned by corporate insiders.

About Graco

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.