Investors Buy Shares of Graco Inc. (GGG) on Weakness

Investors bought shares of Graco Inc. (NYSE:GGG) on weakness during trading on Tuesday. $35.15 million flowed into the stock on the tick-up and $10.65 million flowed out of the stock on the tick-down, for a money net flow of $24.50 million into the stock. Of all stocks tracked, Graco had the 22nd highest net in-flow for the day. Graco traded down ($1.85) for the day and closed at $114.19

Several equities analysts recently commented on GGG shares. TheStreet raised shares of Graco from a “c+” rating to a “b+” rating in a research note on Thursday, April 27th. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research note on Monday, July 31st. BidaskClub downgraded shares of Graco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $110.00 price target (up previously from $105.00) on shares of Graco in a research note on Monday, June 5th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $104.00 price target on shares of Graco in a research note on Monday, June 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Graco presently has an average rating of “Hold” and an average price target of $106.20.

The stock has a market capitalization of $6.29 billion, a P/E ratio of 71.30 and a beta of 1.25. The firm has a 50 day moving average of $111.29 and a 200-day moving average of $103.25.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a net margin of 6.50% and a return on equity of 40.21%. The company had revenue of $379.50 million for the quarter, compared to the consensus estimate of $369.36 million. During the same period in the prior year, the firm posted $0.89 EPS. Graco’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that Graco Inc. will post $4.53 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, July 13th. Graco’s dividend payout ratio is currently 92.90%.

In other Graco news, VP Jeffrey P. Johnson sold 28,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $113.00, for a total transaction of $3,164,000.00. Following the transaction, the vice president now owns 42,213 shares in the company, valued at approximately $4,770,069. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Karen Park Gallivan sold 12,242 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the transaction, the vice president now owns 27,264 shares in the company, valued at approximately $3,135,360. The disclosure for this sale can be found here. Insiders have sold a total of 119,021 shares of company stock worth $6,483,384 in the last 90 days. Company insiders own 5.70% of the company’s stock.

A number of institutional investors have recently bought and sold shares of GGG. Advisors Asset Management Inc. boosted its position in shares of Graco by 106.1% in the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock valued at $123,000 after buying an additional 578 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Graco by 200.0% in the second quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $131,000 after buying an additional 800 shares during the period. Creative Planning boosted its position in shares of Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock valued at $141,000 after buying an additional 76 shares during the period. Fiduciary Trust Co. acquired a new position in shares of Graco during the second quarter valued at $180,000. Finally, Mosaic Family Wealth LLC boosted its position in shares of Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock valued at $168,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 90.10% of the company’s stock.

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About Graco

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

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