Seilern Investment Management Ltd Reduces Holdings in Graco Inc. $GGG

Seilern Investment Management Ltd trimmed its holdings in Graco Inc. (NYSE:GGG) by 36.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 16,788 shares of the industrial products company’s stock after selling 9,489 shares during the quarter. Graco makes up approximately 0.2% of Seilern Investment Management Ltd’s holdings, making the stock its 23rd biggest holding. Seilern Investment Management Ltd’s holdings in Graco were worth $1,269,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC raised its position in Graco by 2,540.0% in the second quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 508 shares during the period. Martin Capital Partners LLC purchased a new position in shares of Graco during the 2nd quarter worth $320,000. Ballast Advisors LLC purchased a new position in shares of Graco during the 1st quarter worth $74,000. Pacer Advisors Inc. increased its position in shares of Graco by 26.4% during the 1st quarter. Pacer Advisors Inc. now owns 288,315 shares of the industrial products company’s stock worth $24,406,000 after purchasing an additional 60,271 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Graco by 34.8% during the 1st quarter. Parallel Advisors LLC now owns 8,217 shares of the industrial products company’s stock worth $696,000 after purchasing an additional 2,122 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Graco Stock Up 0.6%

NYSE:GGG opened at $83.52 on Friday. Graco Inc. has a 52 week low of $72.51 and a 52 week high of $95.69. The company has a fifty day simple moving average of $76.22 and a two-hundred day simple moving average of $82.36. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 2.59 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 (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. The business had revenue of $590.55 million for the quarter, compared to analysts’ expectations of $608.06 million. Graco had a return on equity of 19.54% and a net margin of 23.53%.The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. On average, analysts expect that Graco Inc. will post 3.22 EPS for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were given a $0.295 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.4%. Graco’s dividend payout ratio (DPR) is currently 37.11%.

Graco 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.