Fiduciary Alliance LLC Lowers Holdings in Graco Inc. (NYSE:GGG)

Fiduciary Alliance LLC trimmed its position in shares of Graco Inc. (NYSE:GGG) by 6.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,941 shares of the industrial products company’s stock after selling 712 shares during the quarter. Fiduciary Alliance LLC’s holdings in Graco were worth $917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GGG. Tobam boosted its position in shares of Graco by 2,330.8% during the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock valued at $27,000 after buying an additional 303 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Graco in the fourth quarter worth approximately $28,000. Fortitude Family Office LLC bought a new stake in shares of Graco in the fourth quarter worth approximately $29,000. Rise Advisors LLC purchased a new position in shares of Graco during the first quarter valued at approximately $38,000. Finally, Northwest Financial Advisors bought a new position in Graco during the fourth quarter valued at approximately $50,000. 93.88% of the stock is currently owned by institutional investors.

Graco Stock Up 0.0 %

Graco stock traded up $0.03 during mid-day trading on Friday, reaching $79.28. 2,471,358 shares of the company’s stock traded hands, compared to its average volume of 871,062. Graco Inc. has a 12-month low of $69.78 and a 12-month high of $94.77. The company has a market cap of $13.41 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.60 and a beta of 0.82. The stock has a 50 day moving average of $81.44 and a two-hundred day moving average of $86.03.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). The company had revenue of $492.19 million for the quarter, compared to analysts’ expectations of $536.19 million. Graco had a net margin of 23.15% and a return on equity of 23.01%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.74 earnings per share. As a group, sell-side analysts forecast that Graco Inc. will post 3.05 earnings per share for the current year.

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Monday, July 22nd. Graco’s payout ratio is currently 35.17%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GGG. StockNews.com downgraded Graco from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Robert W. Baird cut their target price on shares of Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $103.00 price target on shares of Graco in a research report on Thursday. Finally, William Blair reissued a “market perform” rating on shares of Graco in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.75.

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.