Raymond James & Associates Raises Holdings in Graco Inc. (GGG)

Raymond James & Associates grew its position in Graco Inc. (NYSE:GGG) by 199.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 388,000 shares of the industrial products company’s stock after purchasing an additional 258,277 shares during the period. Raymond James & Associates’ holdings in Graco were worth $17,545,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GGG. Valley National Advisers Inc. increased its position in Graco by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 2,385 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 1,590 shares during the last quarter. Meeder Asset Management Inc. increased its position in Graco by 53.5% in the 4th quarter. Meeder Asset Management Inc. now owns 3,174 shares of the industrial products company’s stock worth $144,000 after purchasing an additional 1,106 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Graco by 286.6% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,363 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 2,493 shares during the last quarter. Hexavest Inc. increased its position in Graco by 200.0% in the 4th quarter. Hexavest Inc. now owns 4,200 shares of the industrial products company’s stock worth $190,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Fiduciary Trust Co. acquired a new position in Graco in the 4th quarter worth about $201,000. 86.19% of the stock is currently owned by institutional investors.

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In related news, Director William J. Carroll sold 26,625 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $46.67, for a total transaction of $1,242,588.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Karen Park Gallivan sold 27,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $46.67, for a total value of $1,260,090.00. Following the sale, the vice president now owns 72,305 shares of the company’s stock, valued at approximately $3,374,474.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,564 shares of company stock valued at $4,225,595. 5.70% of the stock is owned by corporate insiders.

Several research analysts have weighed in on the company. SunTrust Banks reaffirmed a “hold” rating and issued a $45.00 target price on shares of Graco in a research report on Wednesday, January 31st. ValuEngine lowered Graco from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Deutsche Bank raised Graco from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Tuesday, January 23rd. B. Riley increased their price objective on Graco from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Finally, Zacks Investment Research raised Graco from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Graco has an average rating of “Hold” and an average target price of $47.33.

Graco Inc. (NYSE GGG) opened at $46.63 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 2.70. The company has a market capitalization of $7,894.32, a PE ratio of 32.08, a PEG ratio of 2.49 and a beta of 1.17. Graco Inc. has a fifty-two week low of $30.59 and a fifty-two week high of $49.69.

Graco (NYSE:GGG) last announced its earnings results on Monday, January 29th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Graco had a net margin of 17.12% and a return on equity of 40.08%. The business had revenue of $374.90 million for the quarter, compared to the consensus estimate of $369.53 million. During the same quarter in the previous year, the company earned $1.00 EPS. Graco’s revenue for the quarter was up 7.4% compared to the same quarter last year. analysts expect that Graco Inc. will post 1.78 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 2nd. Investors of record on Monday, April 16th will be paid a dividend of $0.1325 per share. The ex-dividend date of this dividend is Friday, April 13th. This represents a $0.53 annualized dividend and a yield of 1.14%. Graco’s payout ratio is 36.47%.

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About Graco

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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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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