B. Riley Wealth Advisors Inc. Has $230,000 Stock Position in Graco Inc. (NYSE:GGG)

B. Riley Wealth Advisors Inc. reduced its holdings in shares of Graco Inc. (NYSE:GGG) by 42.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,652 shares of the industrial products company’s stock after selling 1,931 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Graco were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GGG. Kestra Advisory Services LLC grew its holdings in shares of Graco by 107.9% during the third quarter. Kestra Advisory Services LLC now owns 5,203 shares of the industrial products company’s stock valued at $379,000 after buying an additional 2,700 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Graco during the third quarter worth about $243,000. Envestnet Asset Management Inc. boosted its holdings in Graco by 60.5% during the third quarter. Envestnet Asset Management Inc. now owns 207,202 shares of the industrial products company’s stock worth $15,101,000 after purchasing an additional 78,107 shares during the last quarter. FMR LLC boosted its holdings in Graco by 874.0% during the third quarter. FMR LLC now owns 440,363 shares of the industrial products company’s stock worth $32,094,000 after purchasing an additional 395,150 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Graco by 61.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 8,225 shares of the industrial products company’s stock worth $599,000 after purchasing an additional 3,124 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Stock Performance

Shares of GGG stock opened at $79.25 on Friday. The firm has a market cap of $13.40 billion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 2.60 and a beta of 0.82. Graco Inc. has a 52 week low of $69.78 and a 52 week high of $94.77. The firm’s 50-day simple moving average is $81.63 and its two-hundred day simple moving average is $86.03.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.09). Graco had a return on equity of 23.01% and a net margin of 23.15%. The company had revenue of $492.19 million during the quarter, compared to the consensus estimate of $536.19 million. During the same period in the prior year, the firm posted $0.74 EPS. The business’s revenue was down 7.1% on a year-over-year basis. Analysts forecast that Graco Inc. will post 3.05 earnings per share for the current year.

Graco Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Robert W. Baird cut their price target on shares of Graco from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. William Blair restated a “market perform” rating on shares of Graco in a report on Friday, April 26th. StockNews.com cut shares of Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $103.00 price objective on shares of Graco in a research report on Thursday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.