Mutual of America Capital Management LLC Lowers Stake in Graco Inc. $GGG

Mutual of America Capital Management LLC lowered its stake in shares of Graco Inc. (NYSE:GGG) by 3.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 93,694 shares of the industrial products company’s stock after selling 3,788 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Graco were worth $8,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GGG. eCIO Inc. bought a new stake in shares of Graco during the first quarter valued at approximately $32,000. WPG Advisers LLC bought a new stake in Graco in the first quarter worth $41,000. Thurston Springer Miller Herd & Titak Inc. increased its position in 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 purchasing an additional 141 shares during the last quarter. Geneos Wealth Management Inc. increased its position in 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 purchasing an additional 452 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in Graco in the second quarter worth $51,000. Institutional investors own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Graco in a research report on Wednesday, October 8th. Robert W. Baird boosted their price target on shares of Graco from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.50.

Graco Stock Up 0.1%

NYSE GGG opened at $82.38 on Tuesday. The company has a fifty day moving average of $84.60 and a two-hundred day moving average of $84.07. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 2.77 and a beta of 1.07. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). The firm 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 firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.77 earnings per share. Equities research analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Monday, October 20th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, October 20th. Graco’s payout ratio is currently 39.01%.

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.