XTX Topco Ltd Invests $1.09 Million in Graco Inc. (NYSE:GGG)

XTX Topco Ltd bought a new stake in Graco Inc. (NYSE:GGG) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 13,749 shares of the industrial products company’s stock, valued at approximately $1,090,000.

Other large investors have also modified their holdings of the company. Gradient Investments LLC bought a new position in Graco during the 2nd quarter worth approximately $27,000. Rise Advisors LLC bought a new position in Graco during the first quarter worth $38,000. New Covenant Trust Company N.A. acquired a new position in Graco in the first quarter worth $43,000. Tobam increased its stake in Graco by 90.2% during the first quarter. Tobam now owns 601 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 285 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Graco by 220.9% during the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 475 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. StockNews.com lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Robert W. Baird decreased their target price on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. DA Davidson lowered their target price on Graco from $82.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, Royal Bank of Canada cut their price target on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $86.80.

Graco Trading Down 1.5 %

NYSE GGG opened at $84.59 on Friday. The company has a 50-day moving average price of $82.03 and a two-hundred day moving average price of $83.94. Graco Inc. has a 52 week low of $69.78 and a 52 week high of $94.77. The stock has a market cap of $14.31 billion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. Graco had a return on equity of 22.40% and a net margin of 23.16%. The firm had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $562.27 million. During the same period last year, the firm earned $0.75 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Graco Inc. will post 2.98 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, October 21st. Graco’s dividend payout ratio is currently 35.17%.

Graco Company 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.