UBS Group AG Cuts Stock Position in Graco Inc. $GGG

UBS Group AG cut its holdings in shares of Graco Inc. (NYSE:GGG) by 32.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 651,032 shares of the industrial products company’s stock after selling 315,038 shares during the period. UBS Group AG’s holdings in Graco were worth $53,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in Graco during the third quarter worth about $29,000. CX Institutional increased its holdings in Graco by 316.7% during the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 361 shares during the period. Assetmark Inc. increased its holdings in Graco by 42.6% during the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 139 shares during the period. Field & Main Bank purchased a new stake in Graco during the 4th quarter worth about $41,000. Finally, Geneos Wealth Management Inc. increased its holdings in Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Graco Price Performance

Graco stock opened at $78.69 on Wednesday. Graco Inc. has a 1-year low of $77.70 and a 1-year high of $95.69. The stock has a market cap of $13.06 billion, a PE ratio of 25.63, a P/E/G ratio of 2.49 and a beta of 0.96. The stock’s fifty day moving average is $86.54 and its two-hundred day moving average is $85.42.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The business had revenue of $540.14 million during the quarter, compared to analyst estimates of $561.35 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts expect that Graco Inc. will post 3.13 earnings per share for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be paid a $0.295 dividend. The ex-dividend date is Monday, April 13th. This represents a $1.18 dividend on an annualized basis and a yield of 1.5%. Graco’s dividend payout ratio (DPR) is currently 38.44%.

Analysts Set New Price Targets

GGG has been the topic of several recent research reports. KeyCorp restated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Robert W. Baird cut their price target on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Weiss Ratings downgraded Graco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Jefferies Financial Group upped their price target on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Finally, DA Davidson restated a “neutral” rating and set a $85.00 price target on shares of Graco in a report on Monday, April 27th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.25.

Insiders Place Their Bets

In related news, EVP Angela F. Wordell sold 2,832 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $93.22, for a total value of $263,999.04. Following the transaction, the executive vice president directly owned 13,360 shares of the company’s stock, valued at $1,245,419.20. This trade represents a 17.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrea Helen Simon bought 1,240 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the transaction, the director directly owned 1,240 shares in the company, valued at approximately $99,857.20. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 2.18% of the company’s stock.

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.