Procyon Advisors LLC Has $303,000 Stock Position in Graco Inc. (NYSE:GGG)

Procyon Advisors LLC grew its holdings in Graco Inc. (NYSE:GGG) by 31.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,457 shares of the industrial products company’s stock after acquiring an additional 824 shares during the quarter. Procyon Advisors LLC’s holdings in Graco were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GGG. Vanguard Group Inc. boosted its holdings in Graco by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 17,229,664 shares of the industrial products company’s stock valued at $1,494,846,000 after purchasing an additional 144,146 shares during the period. PineStone Asset Management Inc. lifted its stake in shares of Graco by 134.4% in the second quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock valued at $330,532,000 after buying an additional 2,390,602 shares during the period. Bank of New York Mellon Corp grew its position in Graco by 5.6% during the second quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company’s stock worth $137,361,000 after buying an additional 91,794 shares in the last quarter. TD Asset Management Inc increased its stake in Graco by 14.5% during the first quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock valued at $134,618,000 after acquiring an additional 182,470 shares during the period. Finally, Flossbach Von Storch AG acquired a new position in Graco in the 1st quarter valued at approximately $111,428,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GGG shares. Royal Bank of Canada cut their target price on Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. DA Davidson reiterated a “neutral” rating and set a $79.00 target price on shares of Graco in a research report on Friday, September 27th. Finally, Robert W. Baird dropped their price target on shares of Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $90.25.

Graco Stock Down 0.4 %

Shares of GGG stock opened at $86.09 on Thursday. The company has a market capitalization of $14.56 billion, a P/E ratio of 29.69, a P/E/G ratio of 2.88 and a beta of 0.81. Graco Inc. has a 12-month low of $69.78 and a 12-month high of $94.77. The firm has a 50-day moving average price of $83.41 and a 200 day moving average price of $83.04.

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

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, October 21st. Graco’s payout ratio is presently 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.