Choreo LLC Has $273,000 Stock Holdings in Graco Inc. $GGG

Choreo LLC trimmed its holdings in shares of Graco Inc. (NYSE:GGG) by 65.7% in the second quarter, Holdings Channel.com reports. The firm owned 3,175 shares of the industrial products company’s stock after selling 6,073 shares during the quarter. Choreo LLC’s holdings in Graco were worth $273,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. NewSquare Capital LLC increased its position in shares of Graco by 320.7% during the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 263 shares in the last quarter. eCIO Inc. bought a new stake in Graco in the 1st quarter valued at $32,000. WPG Advisers LLC acquired a new position in shares of Graco during the first quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Graco by 41.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 141 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Graco by 982.6% during the first 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 last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Price Performance

Graco stock opened at $83.39 on Friday. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $91.00. The firm has a market capitalization of $13.82 billion, a PE ratio of 28.46, a P/E/G ratio of 2.80 and a beta of 1.09. The company’s 50-day moving average is $82.13 and its 200-day moving average is $84.24.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Graco had a return on equity of 18.89% and a net margin of 22.72%.The business had revenue of $543.36 million for the quarter, compared to the consensus estimate of $563.07 million. During the same quarter in the previous year, the business posted $0.71 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts expect that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Monday, October 20th were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, October 20th. Graco’s dividend payout ratio (DPR) is presently 37.54%.

Analyst Upgrades and Downgrades

GGG has been the topic of several analyst reports. Robert W. Baird set a $89.00 price target on shares of Graco in a research report on Friday, October 24th. KeyCorp reiterated a “sector weight” rating on shares of Graco in a report on Thursday, October 23rd. Finally, Weiss Ratings downgraded Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.00.

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.