OneDigital Investment Advisors LLC Acquires New Shares in Graco Inc. $GGG

OneDigital Investment Advisors LLC acquired a new position in Graco Inc. (NYSE:GGG) in the 2nd quarter, Holdings Channel reports. The firm acquired 9,615 shares of the industrial products company’s stock, valued at approximately $727,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV raised its position in Graco by 0.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock valued at $1,745,000 after purchasing an additional 109 shares during the period. Stonebridge Capital Advisors LLC grew its holdings in shares of Graco by 0.3% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after purchasing an additional 119 shares during the period. ICW Investment Advisors LLC raised its holdings in Graco by 5.2% in the 2nd quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company’s stock valued at $234,000 after buying an additional 135 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Graco by 5.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company’s stock valued at $231,000 after buying an additional 139 shares during the last quarter. Finally, Root Financial Partners LLC lifted its position in Graco by 43.2% in the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock valued at $43,000 after buying an additional 152 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GGG. Royal Bank Of Canada lifted their price target on shares of Graco from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Wolfe Research lowered shares of Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. DA Davidson reiterated a “neutral” rating and issued a $85.00 target price on shares of Graco in a report on Monday, July 27th. Weiss Ratings raised Graco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Finally, Robert W. Baird set a $94.00 price objective on Graco in a research note on Friday, July 24th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $95.00.

Graco Stock Performance

NYSE GGG opened at $81.09 on Wednesday. The firm has a 50 day simple moving average of $77.33 and a 200-day simple moving average of $82.10. Graco Inc. has a one year low of $72.51 and a one year high of $95.69. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 2.52 and a beta of 0.92.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. Graco had a net margin of 23.53% and a return on equity of 19.54%. The firm had revenue of $590.55 million during the quarter, compared to analysts’ expectations of $608.06 million. During the same quarter in the previous year, the business posted $0.75 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts predict that Graco Inc. will post 3.26 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were paid a $0.295 dividend. The ex-dividend date was Monday, July 20th. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. Graco’s payout ratio is 37.11%.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.