Taylor Frigon Capital Management LLC Reduces Holdings in Graco Inc. $GGG

Taylor Frigon Capital Management LLC lowered its position in shares of Graco Inc. (NYSE:GGG) by 1.4% in the second quarter, Holdings Channel reports. The institutional investor owned 17,662 shares of the industrial products company’s stock after selling 254 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Graco were worth $1,518,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. eCIO Inc. purchased a new position in Graco in the first quarter worth approximately $32,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Graco by 41.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 141 shares during the last quarter. WPG Advisers LLC acquired a new position in shares of Graco in the 1st quarter valued at $41,000. Geneos Wealth Management Inc. grew its holdings in shares of Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares during the period. Finally, Golden State Wealth Management LLC increased its position in shares of Graco by 128.9% during the 1st quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on GGG shares. Wolfe Research began coverage on shares of Graco in a research report on Wednesday, June 18th. They issued an “outperform” rating on the stock. Robert W. Baird upped their price objective on shares of Graco from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Graco presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.50.

Graco Stock Performance

Shares of GGG stock opened at $84.71 on Monday. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86. The company has a 50 day moving average price of $85.03 and a 200 day moving average price of $84.07. The stock has a market capitalization of $14.04 billion, a P/E ratio of 30.04, a price-to-earnings-growth ratio of 2.86 and a beta of 1.03.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The company had revenue of $571.81 million during the quarter, compared to analysts’ expectations of $590.57 million. During the same quarter last year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, research analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Monday, October 20th will be paid a $0.275 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. Graco’s payout ratio is currently 39.01%.

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.