Bayforest Capital Ltd Buys 943 Shares of Graco Inc. $GGG

by · The Cerbat Gem

Bayforest Capital Ltd increased its stake in Graco Inc. (NYSE:GGG – Free Report) by 13.9% during the second quarter, Holdings Channel reports. The firm owned 7,731 shares of the industrial products company’s stock after acquiring an additional 943 shares during the period. Bayforest Capital Ltd’s holdings in Graco were worth $665,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Graco by 149.5% in the first quarter. Bessemer Group Inc. now owns 4,992 shares of the industrial products company’s stock worth $416,000 after purchasing an additional 2,991 shares during the period. Asset Management One Co. Ltd. boosted its stake in Graco by 13.8% in the first quarter. Asset Management One Co. Ltd. now owns 70,117 shares of the industrial products company’s stock valued at $5,855,000 after buying an additional 8,490 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Graco in the first quarter valued at about $2,335,000. Novem Group boosted its stake in Graco by 34.5% in the first quarter. Novem Group now owns 11,900 shares of the industrial products company’s stock valued at $994,000 after buying an additional 3,052 shares in the last quarter. Finally, Entropy Technologies LP boosted its stake in Graco by 59.4% in the first quarter. Entropy Technologies LP now owns 16,677 shares of the industrial products company’s stock valued at $1,393,000 after buying an additional 6,216 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Graco in a research note on Wednesday, October 8th. Wolfe Research assumed coverage on Graco in a research note on Wednesday, June 18th. They set an “outperform” rating on the stock. Finally, Robert W. Baird lifted their price target on Graco from $88.00 to $91.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.50.

View Our Latest Stock Analysis on Graco

Graco Stock Performance

Shares of GGG stock opened at $81.05 on Tuesday. The company has a market cap of $13.43 billion, a P/E ratio of 28.74, a PEG ratio of 2.70 and a beta of 1.07. The stock has a 50 day simple moving average of $84.75 and a two-hundred day simple moving average of $84.05. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86.

Graco (NYSE:GGG – Get Free Report) last issued its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $571.81 million during the quarter, compared to the consensus estimate of $590.57 million. Graco had a return on equity of 19.05% and a net margin of 22.26%.The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. On average, research analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Monday, October 20th will be issued a dividend of $0.275 per share. The ex-dividend date is Monday, October 20th. This represents a $1.10 annualized dividend and a dividend yield of 1.4%. Graco’s payout ratio is currently 39.01%.

About Graco

(Free Report)

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.

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