WCM Investment Management LLC Increases Stock Holdings in Graco Inc. (NYSE:GGG)
WCM Investment Management LLC increased its holdings in Graco Inc. (NYSE:GGG) by 10.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,932,293 shares of the industrial products company’s stock after acquiring an additional 177,159 shares during the quarter. WCM Investment Management LLC owned about 1.16% of Graco worth $96,963,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. Icon Wealth Partners LLC purchased a new position in Graco during the first quarter valued at $25,000. Alpha Quant Advisors LLC increased its holdings in shares of Graco by 91.9% during the first quarter. Alpha Quant Advisors LLC now owns 783 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 375 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Graco during the second quarter valued at $40,000. Manchester Capital Management LLC bought a new position in shares of Graco during the first quarter valued at $41,000. Finally, Kavar Capital Partners LLC bought a new position in shares of Graco during the second quarter valued at $43,000. 84.79% of the stock is owned by institutional investors.
GGG has been the subject of several analyst reports. ValuEngine downgraded Graco from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Robert W. Baird set a $50.00 price target on Graco and gave the company a “hold” rating in a report on Friday, July 26th. Zacks Investment Research upgraded Graco from a “sell” rating to a “hold” rating and set a $49.00 price target for the company in a report on Wednesday, May 29th. Finally, DA Davidson restated a “neutral” rating on shares of Graco in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $47.20.
NYSE GGG traded down $0.18 during trading hours on Thursday, hitting $45.39. The company’s stock had a trading volume of 86,135 shares, compared to its average volume of 546,947. Graco Inc. has a 12 month low of $37.36 and a 12 month high of $53.91. The company’s 50 day simple moving average is $48.42 and its two-hundred day simple moving average is $48.90. The company has a market cap of $7.66 billion, a P/E ratio of 24.14, a price-to-earnings-growth ratio of 2.09 and a beta of 0.97. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.39.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.03). Graco had a return on equity of 39.22% and a net margin of 20.61%. The business had revenue of $428.30 million during the quarter, compared to the consensus estimate of $444.93 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. Graco’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts predict that Graco Inc. will post 1.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd were paid a dividend of $0.16 per share. The ex-dividend date was Friday, July 19th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.41%. Graco’s dividend payout ratio is currently 34.04%.
Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.
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