Running Oak Capital LLC Acquires 9,087 Shares of Graco Inc. $GGG

Running Oak Capital LLC boosted its stake in shares of Graco Inc. (NYSE:GGG) by 5.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,206 shares of the industrial products company’s stock after buying an additional 9,087 shares during the quarter. Running Oak Capital LLC’s holdings in Graco were worth $15,922,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. OLD National Bancorp IN purchased a new position in Graco in the second quarter valued at about $764,000. QRG Capital Management Inc. raised its holdings in shares of Graco by 17.6% in the 2nd quarter. QRG Capital Management Inc. now owns 24,260 shares of the industrial products company’s stock worth $2,086,000 after purchasing an additional 3,636 shares during the period. Hilltop National Bank purchased a new position in Graco in the second quarter valued at approximately $161,000. J. Safra Sarasin Holding AG grew its holdings in Graco by 90.6% during the second quarter. J. Safra Sarasin Holding AG now owns 21,675 shares of the industrial products company’s stock valued at $1,863,000 after purchasing an additional 10,302 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in Graco by 3.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 25,310 shares of the industrial products company’s stock worth $2,176,000 after buying an additional 893 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

GGG has been the subject of several research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Graco in a research note on Saturday, September 27th. Wolfe Research assumed coverage on shares of Graco in a research report on Wednesday, June 18th. They set an “outperform” rating for the company. Finally, Robert W. Baird lifted their target price on shares of Graco from $88.00 to $91.00 and gave the stock a “neutral” rating in a research note on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Graco has a consensus rating of “Moderate Buy” and a consensus price target of $94.50.

Graco Stock Down 0.1%

GGG stock opened at $84.75 on Monday. The stock has a 50-day simple moving average of $84.89 and a two-hundred day simple moving average of $84.11. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86. The firm has a market capitalization of $14.04 billion, a PE ratio of 30.05, a PEG ratio of 2.86 and a beta of 1.07.

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

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Monday, October 20th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.10 annualized dividend and a yield of 1.3%. Graco’s dividend payout ratio (DPR) is currently 39.01%.

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.