Bennett Selby Investments LP Sells 378 Shares of Graco Inc. (NYSE:GGG)

Bennett Selby Investments LP lessened its stake in Graco Inc. (NYSE:GGG) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,330 shares of the industrial products company’s stock after selling 378 shares during the period. Graco comprises about 1.3% of Bennett Selby Investments LP’s portfolio, making the stock its 17th biggest position. Bennett Selby Investments LP’s holdings in Graco were worth $3,092,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Gradient Investments LLC bought a new stake in shares of Graco in the 2nd quarter valued at about $27,000. Rise Advisors LLC bought a new stake in shares of Graco in the 1st quarter valued at about $38,000. New Covenant Trust Company N.A. bought a new stake in shares of Graco in the 1st quarter valued at about $43,000. UMB Bank n.a. grew its position in shares of Graco by 187.8% in the 3rd 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 during the last quarter. Finally, Tobam grew its position in shares of Graco by 90.2% in the 1st quarter. Tobam now owns 601 shares of the industrial products company’s stock valued at $56,000 after buying an additional 285 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

GGG stock opened at $86.30 on Friday. The stock’s 50 day simple moving average is $82.95 and its 200 day simple moving average is $83.26. Graco Inc. has a fifty-two week low of $69.78 and a fifty-two week high of $94.77. The company has a market cap of $14.60 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81.

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

Graco Announces Dividend

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

Analyst Ratings Changes

GGG has been the topic of several research analyst reports. DA Davidson restated a “neutral” rating and set a $79.00 target price on shares of Graco in a research report on Friday, September 27th. Robert W. Baird cut their target price on Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, Royal Bank of Canada cut their target price on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $90.25.

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.