Flossbach Von Storch SE Lowers Stake in Graco Inc. $GGG

Flossbach Von Storch SE reduced its position in Graco Inc. (NYSE:GGG - Free Report) by 4.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,337,450 shares of the industrial products company's stock after selling 161,750 shares during the quarter. Graco makes up about 1.2% of Flossbach Von Storch SE's investment portfolio, making the stock its 27th largest holding. Flossbach Von Storch SE owned approximately 2.01% of Graco worth $286,921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GGG. PineStone Asset Management Inc. boosted its holdings in Graco by 9.1% in the 2nd quarter. PineStone Asset Management Inc. now owns 3,911,372 shares of the industrial products company's stock worth $336,261,000 after buying an additional 326,877 shares during the period. Invesco Ltd. raised its holdings in Graco by 1.6% during the first quarter. Invesco Ltd. now owns 1,828,962 shares of the industrial products company's stock valued at $152,737,000 after acquiring an additional 28,795 shares during the period. Amundi lifted its position in shares of Graco by 7.2% in the first quarter. Amundi now owns 1,797,477 shares of the industrial products company's stock valued at $144,194,000 after acquiring an additional 120,875 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Graco by 12.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,337,457 shares of the industrial products company's stock worth $111,691,000 after acquiring an additional 146,424 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Graco by 12.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,291,475 shares of the industrial products company's stock worth $107,851,000 after purchasing an additional 144,134 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on GGG. Robert W. Baird set a $89.00 target price on Graco in a research note on Friday, October 24th. KeyCorp reissued a "sector weight" rating on shares of Graco in a report on Thursday, October 23rd. Finally, Weiss Ratings lowered shares of Graco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Saturday, October 25th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $94.00.

Read Our Latest Analysis on Graco

Graco Price Performance

NYSE:GGG opened at $81.59 on Friday. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.71 and a beta of 1.08. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86. The stock's 50 day simple moving average is $83.44 and its two-hundred day simple moving average is $84.46.

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

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Monday, October 20th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, October 20th. Graco's dividend payout ratio is currently 37.54%.

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.

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