Entropy Technologies LP Has $2.38 Million Position in Graco Inc. $GGG

Entropy Technologies LP raised its position in Graco Inc. (NYSE:GGG) by 31.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,981 shares of the industrial products company’s stock after buying an additional 6,908 shares during the quarter. Entropy Technologies LP’s holdings in Graco were worth $2,376,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its holdings in Graco by 32.7% in the 4th quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock valued at $32,652,000 after buying an additional 98,141 shares in the last quarter. Comerica Bank grew its holdings in Graco by 54.1% in the 4th quarter. Comerica Bank now owns 172,328 shares of the industrial products company’s stock valued at $14,126,000 after buying an additional 60,486 shares in the last quarter. Swiss Life Asset Management Ltd grew its holdings in Graco by 40.5% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock valued at $3,869,000 after buying an additional 13,130 shares in the last quarter. Raiffeisen Bank International AG grew its holdings in Graco by 191.8% in the 3rd quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company’s stock valued at $744,000 after buying an additional 5,790 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in Graco in the 4th quarter valued at $3,527,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. DA Davidson reiterated a “neutral” rating and set a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Robert W. Baird cut their target price on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 target price on shares of Graco in a research report on Friday, April 24th. Finally, Weiss Ratings downgraded Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Graco presently has a consensus rating of “Hold” and an average price target of $94.25.

Insider Activity at Graco

In other Graco news, Director Andrea Helen Simon purchased 1,240 shares of Graco stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, with a total value of $99,857.20. Following the transaction, the director owned 1,240 shares in the company, valued at $99,857.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.18% of the stock is currently owned by corporate insiders.

Graco Stock Performance

Shares of NYSE:GGG opened at $75.19 on Tuesday. The company has a fifty day moving average of $79.38 and a 200-day moving average of $84.25. The company has a market capitalization of $12.48 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 2.40 and a beta of 0.93. Graco Inc. has a 52-week low of $73.26 and a 52-week high of $95.69.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The business had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. During the same period in the prior year, the firm earned $0.70 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts forecast that Graco Inc. will post 3.1 EPS for the current fiscal year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, July 20th. Graco’s dividend payout ratio is 38.44%.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.