Graco Inc. (NYSE:GGG) Shares Acquired by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lifted its holdings in Graco Inc. (NYSE:GGG) by 3.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,556 shares of the industrial products company’s stock after purchasing an additional 3,122 shares during the period. Marks Group Wealth Management Inc owned approximately 0.06% of Graco worth $8,362,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. PineStone Asset Management Inc. grew its stake in shares of Graco by 134.4% in the second quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock worth $330,532,000 after acquiring an additional 2,390,602 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Graco by 5.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company’s stock worth $137,361,000 after purchasing an additional 91,794 shares during the period. TD Asset Management Inc raised its position in Graco by 14.5% in the 1st quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock valued at $134,618,000 after purchasing an additional 182,470 shares in the last quarter. Flossbach Von Storch AG acquired a new position in shares of Graco during the first quarter worth about $111,428,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Graco by 32.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,069,292 shares of the industrial products company’s stock worth $84,775,000 after buying an additional 259,819 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GGG has been the subject of several analyst reports. DA Davidson reiterated a “neutral” rating and set a $79.00 price target on shares of Graco in a report on Friday, September 27th. Robert W. Baird cut their price target on Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Royal Bank of Canada lowered their price objective on Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Graco has an average rating of “Hold” and an average price target of $89.25.

Graco Price Performance

NYSE GGG opened at $84.60 on Wednesday. The company has a fifty day moving average of $84.04 and a two-hundred day moving average of $82.25. The company has a market capitalization of $14.28 billion, a PE ratio of 29.89, a P/E/G ratio of 2.82 and a beta of 0.82. Graco Inc. has a 1 year low of $76.28 and a 1 year high of $94.77.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The firm had revenue of $519.21 million during the quarter, compared to analyst estimates of $538.19 million. Graco had a net margin of 22.87% and a return on equity of 21.24%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. On average, research analysts expect that Graco Inc. will post 2.92 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be given a dividend of $0.255 per share. The ex-dividend date is Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.21%. Graco’s dividend payout ratio (DPR) is presently 36.04%.

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.