OneDigital Investment Advisors LLC Purchases New Holdings in Graco Inc. $GGG

OneDigital Investment Advisors LLC acquired a new position in Graco Inc. (NYSE:GGG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,615 shares of the industrial products company’s stock, valued at approximately $727,000.

Several other large investors also recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC purchased a new position in shares of Graco in the first quarter valued at approximately $26,000. Whipplewood Advisors LLC increased its position in shares of Graco by 2,650.0% during the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 318 shares in the last quarter. Essential Partners LLC increased its position in shares of Graco by 78.6% during the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Elevation Wealth Partners LLC raised its stake in Graco by 2,540.0% in the 2nd 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, Field & Main Bank purchased a new position in Graco in the 4th quarter valued at $41,000. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Graco Stock Performance

Shares of Graco stock opened at $81.09 on Wednesday. The business’s 50 day moving average price is $77.33 and its 200 day moving average price is $82.10. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 2.52 and a beta of 0.92. Graco Inc. has a one year low of $72.51 and a one year high of $95.69.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $590.55 million during the quarter, compared to analysts’ expectations of $608.06 million. During the same period in the prior year, the business earned $0.75 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts predict that Graco Inc. will post 3.26 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were issued a $0.295 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. Graco’s dividend payout ratio is currently 37.11%.

Analysts Set New Price Targets

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

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.