Graco Inc. $GGG Shares Sold by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA decreased its stake in Graco Inc. (NYSE:GGG) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 4,150 shares of the industrial products company’s stock after selling 400 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in Graco were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of GGG. eCIO Inc. purchased a new stake in shares of Graco in the first quarter worth about $32,000. WPG Advisers LLC purchased a new stake in shares of Graco in the first quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Graco by 41.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock worth $41,000 after buying an additional 141 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after buying an additional 452 shares during the last quarter. Finally, Trust Co. of Toledo NA OH purchased a new stake in shares of Graco in the second quarter worth about $51,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GGG. Wolfe Research began coverage on Graco in a research note on Wednesday, June 18th. They issued an “outperform” rating on the stock. Robert W. Baird upped their target price on Graco from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Graco in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.50.

Graco Trading Down 2.1%

Shares of GGG stock opened at $80.15 on Friday. The company has a market capitalization of $13.28 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.71 and a beta of 1.07. The business’s 50 day moving average is $84.78 and its two-hundred day moving average is $84.07. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86.

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

Graco Announces Dividend

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

Graco Company 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.