Financial Engines Advisors L.L.C. Has $487,000 Position in Graco Inc. (GGG)
Financial Engines Advisors L.L.C. reduced its position in shares of Graco Inc. (NYSE:GGG) by 12.3% during the second quarter, Holdings Channel reports. The firm owned 4,455 shares of the industrial products company’s stock after selling 624 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Graco were worth $487,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Creative Planning increased its position in Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock worth $141,000 after buying an additional 76 shares during the period. Mosaic Family Wealth LLC increased its position in Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock worth $168,000 after buying an additional 62 shares during the period. TLP Group LLC bought a new position in Graco during the first quarter worth approximately $193,000. Canada Pension Plan Investment Board increased its position in Graco by 425.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock worth $198,000 after buying an additional 1,700 shares during the period. Finally, Wellington Management Group LLP bought a new position in Graco during the first quarter worth approximately $206,000. 90.30% of the stock is owned by institutional investors and hedge funds.
Graco Inc. (GGG) opened at 112.47 on Friday. The firm has a 50-day moving average price of $110.73 and a 200-day moving average price of $102.17. Graco Inc. has a 52-week low of $69.33 and a 52-week high of $116.75. The company has a market cap of $6.30 billion, a PE ratio of 71.36 and a beta of 1.25.
Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.32. The business had revenue of $379.50 million for the quarter, compared to analysts’ expectations of $369.36 million. Graco had a return on equity of 52.55% and a net margin of 21.04%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, analysts forecast that Graco Inc. will post $4.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Monday, July 17th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, July 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.28%. Graco’s dividend payout ratio (DPR) is 92.90%.
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A number of research analysts recently commented on GGG shares. TheStreet raised Graco from a “c+” rating to a “b+” rating in a research note on Thursday, April 27th. Zacks Investment Research raised 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 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 issued 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 issued a $104.00 price target on shares of Graco in a research note on Monday, June 5th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $106.20.
In related news, Director Eric Etchart sold 793 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $113.90, for a total transaction of $90,322.70. Following the sale, the director now owns 11,224 shares of the company’s stock, valued at approximately $1,278,413.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $1,407,830.00. Following the sale, the vice president now directly 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 129,021 shares of company stock worth $6,484,484 in the last three months. 5.70% of the stock is currently owned by insiders.
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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