California Public Employees Retirement System boosted its stake in Graco Inc. (NYSE:GGG) by 207.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 511,947 shares of the industrial products company’s stock after acquiring an additional 345,230 shares during the period. California Public Employees Retirement System’s holdings in Graco were worth $23,150,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of GGG. FMR LLC acquired a new stake in Graco in the second quarter valued at $16,392,000. Dimensional Fund Advisors LP raised its holdings in Graco by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 374,426 shares of the industrial products company’s stock valued at $40,917,000 after acquiring an additional 3,629 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Graco by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 81,834 shares of the industrial products company’s stock valued at $8,943,000 after acquiring an additional 1,017 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Graco by 11.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,798 shares of the industrial products company’s stock valued at $743,000 after acquiring an additional 698 shares in the last quarter. Finally, Shell Asset Management Co. acquired a new stake in Graco in the third quarter valued at $1,080,000. 64.67% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on GGG. Zacks Investment Research cut shares of Graco from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. B. Riley reaffirmed a “neutral” rating on shares of Graco in a report on Wednesday, November 1st. ValuEngine cut shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Deutsche Bank raised shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $49.00 price target on shares of Graco in a report on Thursday, January 4th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Graco presently has an average rating of “Hold” and an average price target of $47.33.
In other Graco news, CFO Christian E. Rothe sold 12,750 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $132.01, for a total transaction of $1,683,127.50. Following the sale, the chief financial officer now directly owns 16,905 shares of the company’s stock, valued at $2,231,629.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Karen Park Gallivan sold 27,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $46.67, for a total transaction of $1,260,090.00. Following the sale, the vice president now directly owns 72,305 shares in the company, valued at $3,374,474.35. The disclosure for this sale can be found here. Insiders have sold 91,689 shares of company stock worth $6,646,134 over the last three months. 5.70% of the stock is owned by corporate insiders.
Shares of Graco Inc. (NYSE:GGG) opened at $43.96 on Wednesday. The firm has a market cap of $7,400.00, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 2.35 and a beta of 1.15. Graco Inc. has a twelve month low of $29.70 and a twelve month high of $49.69. The company has a current ratio of 2.70, a quick ratio of 1.67 and a debt-to-equity ratio of 0.31.
Graco (NYSE:GGG) last issued its earnings results on Monday, January 29th. The industrial products company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). The business had revenue of $374.90 million for the quarter, compared to analyst estimates of $369.53 million. Graco had a return on equity of 40.08% and a net margin of 17.12%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company posted $1.00 earnings per share. sell-side analysts anticipate that Graco Inc. will post 1.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Monday, April 16th will be issued a dividend of $0.1325 per share. The ex-dividend date is Friday, April 13th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 1.21%. Graco’s dividend payout ratio (DPR) is 42.40%.
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Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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