Entropy Technologies LP Reduces Stake in Graco Inc. (NYSE:GGG)

Entropy Technologies LP decreased its holdings in shares of Graco Inc. (NYSE:GGG) by 19.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,803 shares of the industrial products company’s stock after selling 5,089 shares during the quarter. Entropy Technologies LP’s holdings in Graco were worth $1,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GGG. Gradient Investments LLC purchased a new stake in shares of Graco during the 2nd quarter worth approximately $27,000. New Covenant Trust Company N.A. purchased a new stake in Graco in the first quarter valued at $43,000. UMB Bank n.a. grew its holdings in shares of Graco by 187.8% during the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 323 shares during the last quarter. Eastern Bank acquired a new stake in shares of Graco during the third quarter worth about $59,000. Finally, Blue Trust Inc. lifted its holdings in shares of Graco by 220.9% in the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 475 shares during the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Trading Down 1.0 %

NYSE:GGG opened at $88.15 on Wednesday. Graco Inc. has a 12-month low of $77.03 and a 12-month high of $94.77. The stock’s 50 day simple moving average is $84.62 and its 200-day simple moving average is $82.31. The firm has a market cap of $14.88 billion, a P/E ratio of 31.15, a PEG ratio of 3.00 and a beta of 0.82.

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

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.16%. The ex-dividend date was Monday, October 21st. Graco’s payout ratio is 36.04%.

Insider Transactions at Graco

In related news, insider David J. Thompson sold 3,216 shares of Graco stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total value of $284,004.96. Following the sale, the insider now directly owns 27,246 shares in the company, valued at $2,406,094.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.63% of the company’s stock.

Wall Street Analyst Weigh In

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

Graco 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.