Sanctuary Advisors LLC Makes New $644,000 Investment in Graco Inc. $GGG

Sanctuary Advisors LLC purchased a new position in Graco Inc. (NYSE:GGG) during the second quarter, HoldingsChannel.com reports. The fund purchased 8,517 shares of the industrial products company’s stock, valued at approximately $644,000.

Several other hedge funds and other institutional investors have also modified their holdings of GGG. Cassaday & Co Wealth Management LLC bought a new stake in shares of Graco during the 1st quarter valued at about $26,000. Whipplewood Advisors LLC lifted its holdings in 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 acquiring an additional 318 shares during the last quarter. Essential Partners LLC boosted its stake in 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 acquiring an additional 158 shares during the period. Elevation Wealth Partners LLC grew its holdings in shares of Graco by 2,540.0% during the second quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 508 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Graco by 982.6% during 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 last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wolfe Research downgraded Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Robert W. Baird set a $94.00 price objective on Graco in a research note on Friday, July 24th. Weiss Ratings raised Graco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada raised their target price on Graco from $92.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, DA Davidson reissued a “neutral” rating and set a $85.00 price target on shares of Graco in a report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.00.

Graco Trading Down 0.6%

Shares of NYSE:GGG opened at $79.14 on Friday. The firm’s 50 day moving average is $78.16 and its two-hundred day moving average is $81.62. The firm has a market capitalization of $12.82 billion, a P/E ratio of 24.89, a PEG ratio of 2.44 and a beta of 0.92. Graco Inc. has a 52 week low of $72.51 and a 52 week high of $95.69.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The business had revenue of $590.55 million during the quarter, compared to the consensus estimate of $608.06 million. During the same period in the previous year, the firm posted $0.75 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Analysts predict that Graco Inc. will post 3.19 EPS for the current year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, July 20th. Graco’s payout ratio is 37.11%.

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.