11,929 Shares in Graco Inc. (NYSE:GGG) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in Graco Inc. (NYSE:GGG) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 11,929 shares of the industrial products company’s stock, valued at approximately $985,000.

Several other institutional investors have also added to or reduced their stakes in GGG. Vanguard Group Inc. raised its stake in shares of Graco by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 17,229,664 shares of the industrial products company’s stock valued at $1,494,846,000 after purchasing an additional 144,146 shares during the period. PineStone Asset Management Inc. boosted its position in Graco by 134.4% during the 2nd 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 during the last quarter. Bank of New York Mellon Corp boosted its position 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 acquiring an additional 91,794 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Graco by 14.5% during the 1st quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock worth $134,618,000 after acquiring an additional 182,470 shares in the last quarter. Finally, Flossbach Von Storch AG bought a new position in shares of Graco during the 1st quarter worth approximately $111,428,000. 93.88% of the stock is owned by institutional investors.

Graco Price Performance

Shares of GGG opened at $86.30 on Friday. The firm has a 50-day moving average of $82.95 and a 200-day moving average of $83.26. The company has a market cap of $14.60 billion, a PE ratio of 29.76, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. Graco Inc. has a one year low of $69.78 and a one year high of $94.77.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Graco had a return on equity of 22.40% and a net margin of 23.16%. The firm had revenue of $553.20 million for the quarter, compared to the consensus estimate of $562.27 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. Analysts expect that Graco Inc. will post 2.98 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.18%. The ex-dividend date is Monday, October 21st. Graco’s dividend payout ratio is 35.17%.

Analyst Ratings Changes

GGG has been the subject of several recent research reports. Royal Bank of Canada reduced their target price on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, July 26th. DA Davidson restated a “neutral” rating and set a $79.00 price objective on shares of Graco in a research note on Friday, September 27th. Finally, Robert W. Baird lowered their target price on Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.25.

Graco 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.