B. Riley Wealth Advisors Inc. Has $211,000 Holdings in Graco Inc. (NYSE:GGG)

B. Riley Wealth Advisors Inc. trimmed its stake in shares of Graco Inc. (NYSE:GGG) by 41.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,665 shares of the industrial products company’s stock after selling 1,918 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Graco were worth $211,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Capital Fund Management S.A. lifted its holdings in Graco by 160.8% during the 4th quarter. Capital Fund Management S.A. now owns 78,746 shares of the industrial products company’s stock worth $6,832,000 after buying an additional 48,547 shares in the last quarter. Secured Retirement Advisors LLC bought a new position in Graco in the fourth quarter valued at about $1,606,000. GLOBALT Investments LLC GA bought a new position in Graco in the fourth quarter valued at about $1,076,000. V Square Quantitative Management LLC increased its position in Graco by 51.9% in the fourth quarter. V Square Quantitative Management LLC now owns 2,189 shares of the industrial products company’s stock worth $190,000 after purchasing an additional 748 shares during the period. Finally, True Vision MN LLC bought a new stake in Graco during the 4th quarter worth about $2,380,000. 93.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GGG. Robert W. Baird reduced their target price on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. StockNews.com lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. DA Davidson reaffirmed a “neutral” rating and set a $79.00 target price on shares of Graco in a report on Friday, September 27th. Finally, Royal Bank of Canada dropped their target price on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Four research 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 $90.25.

Graco Price Performance

Shares of GGG stock opened at $85.65 on Thursday. The stock has a market cap of $14.49 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. The stock has a 50-day moving average of $82.80 and a 200-day moving average of $83.30. Graco Inc. has a one year low of $69.78 and a one year high of $94.77.

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

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, October 21st. This represents a $1.02 annualized dividend and a yield of 1.19%. Graco’s dividend payout ratio is presently 35.17%.

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.