Crestwood Advisors Group LLC Buys 594 Shares of Graco Inc. (NYSE:GGG)

Crestwood Advisors Group LLC increased its stake in shares of Graco Inc. (NYSE:GGG) by 23.1% during the 3rd quarter, Holdings Channel reports. The fund owned 3,161 shares of the industrial products company’s stock after acquiring an additional 594 shares during the period. Crestwood Advisors Group LLC’s holdings in Graco were worth $277,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GGG. PineStone Asset Management Inc. boosted its position in shares of Graco by 134.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock worth $330,532,000 after purchasing an additional 2,390,602 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Graco by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company’s stock worth $137,361,000 after acquiring an additional 91,794 shares in the last quarter. TD Asset Management Inc grew its stake in Graco by 14.5% in the first quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock valued at $134,618,000 after acquiring an additional 182,470 shares during the period. Dimensional Fund Advisors LP grew its stake in Graco by 32.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,069,292 shares of the industrial products company’s stock valued at $84,775,000 after acquiring an additional 259,819 shares during the period. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Graco by 3.6% during the second quarter. Epoch Investment Partners Inc. now owns 962,163 shares of the industrial products company’s stock valued at $76,280,000 after acquiring an additional 33,563 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Robert W. Baird cut their target price on Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. DA Davidson reaffirmed a “neutral” rating and issued a $79.00 price objective on shares of Graco in a research note on Friday, September 27th. Finally, Royal Bank of Canada decreased their target price on shares of Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.25.

Graco Price Performance

GGG opened at $88.75 on Thursday. Graco Inc. has a 1 year low of $76.28 and a 1 year high of $94.77. The company has a market capitalization of $14.99 billion, a price-to-earnings ratio of 31.36, a P/E/G ratio of 2.85 and a beta of 0.82. The firm’s fifty day moving average price is $84.04 and its two-hundred day moving average price is $82.25.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Graco had a return on equity of 21.24% and a net margin of 22.87%. The firm had revenue of $519.21 million during the quarter, compared to the consensus estimate of $538.19 million. During the same period in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Graco Inc. will post 2.92 EPS for the current year.

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were given a $0.255 dividend. The ex-dividend date was Monday, October 21st. This represents a $1.02 annualized dividend and a yield of 1.15%. Graco’s dividend payout ratio is currently 36.04%.

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.