Walter Public Investments Inc. Has $14.62 Million Holdings in Graco Inc. (NYSE:GGG)

Walter Public Investments Inc. grew its holdings in Graco Inc. (NYSE:GGG) by 13.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,039 shares of the industrial products company’s stock after purchasing an additional 19,364 shares during the period. Graco comprises approximately 2.6% of Walter Public Investments Inc.’s investment portfolio, making the stock its 22nd biggest holding. Walter Public Investments Inc.’s holdings in Graco were worth $14,618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GGG. Gradient Investments LLC acquired a new stake in shares of Graco in the second quarter valued at approximately $27,000. Rise Advisors LLC bought a new position in shares of Graco in the first quarter valued at $38,000. New Covenant Trust Company N.A. bought a new position in shares of Graco in the first quarter valued at $43,000. UMB Bank n.a. grew its stake in shares of Graco by 187.8% in the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock valued at $43,000 after buying an additional 323 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Graco by 220.9% in the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock valued at $55,000 after buying an additional 475 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Price Performance

GGG stock opened at $86.09 on Thursday. The company has a fifty day moving average price of $83.41 and a two-hundred day moving average price of $83.04. Graco Inc. has a one year low of $69.78 and a one year high of $94.77. The stock has a market cap of $14.56 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81.

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

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be given a dividend of $0.255 per share. The ex-dividend date is Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a yield of 1.18%. Graco’s dividend payout ratio (DPR) is 35.17%.

Wall Street Analyst Weigh In

GGG has been the subject of several analyst reports. Royal Bank of Canada decreased their target price on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Robert W. Baird decreased their target price on shares of Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Friday, July 26th. Finally, DA Davidson reissued a “neutral” rating and issued a $79.00 target price on shares of Graco in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Graco has an average rating of “Hold” and an average target price of $90.25.

About Graco

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.