Montag A & Associates Inc. raised its position in shares of Graco Inc. (NYSE:GGG) by 22.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,350 shares of the industrial products company’s stock after buying an additional 4,804 shares during the period. Montag A & Associates Inc.’s holdings in Graco were worth $1,213,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GGG. Nuveen Asset Management LLC purchased a new position in shares of Graco during the second quarter worth $29,612,000. BlackRock Inc. boosted its holdings in Graco by 3.5% in the second quarter. BlackRock Inc. now owns 15,382,636 shares of the industrial products company’s stock valued at $771,901,000 after purchasing an additional 517,850 shares during the period. WCM Investment Management LLC boosted its holdings in Graco by 10.1% in the second quarter. WCM Investment Management LLC now owns 1,932,293 shares of the industrial products company’s stock valued at $96,963,000 after purchasing an additional 177,159 shares during the period. State of New Jersey Common Pension Fund D purchased a new position in Graco in the third quarter valued at $7,730,000. Finally, Mountain Pacific Investment Advisers Inc. ID boosted its holdings in Graco by 100.3% in the second quarter. Mountain Pacific Investment Advisers Inc. ID now owns 298,658 shares of the industrial products company’s stock valued at $14,987,000 after purchasing an additional 149,551 shares during the period. Institutional investors and hedge funds own 84.25% of the company’s stock.
A number of research analysts recently issued reports on GGG shares. Robert W. Baird set a $50.00 target price on Graco and gave the company a “hold” rating in a report on Friday, July 26th. Royal Bank of Canada set a $46.00 target price on Graco and gave the company a “hold” rating in a report on Friday, October 25th. Finally, ValuEngine lowered Graco from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $47.75.
NYSE:GGG traded up $0.31 during midday trading on Friday, reaching $47.07. The company had a trading volume of 600,170 shares, compared to its average volume of 527,832. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.26 and a beta of 0.95. The stock’s fifty day simple moving average is $45.71 and its 200-day simple moving average is $47.90. Graco Inc. has a 12-month low of $38.59 and a 12-month high of $53.91. The company has a current ratio of 2.69, a quick ratio of 1.68 and a debt-to-equity ratio of 0.20.
Graco (NYSE:GGG) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.06). The company had revenue of $400.60 million during the quarter, compared to analysts’ expectations of $418.93 million. Graco had a net margin of 20.29% and a return on equity of 36.17%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.50 earnings per share. As a group, sell-side analysts expect that Graco Inc. will post 1.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Friday, October 18th. Graco’s dividend payout ratio (DPR) is 34.04%.
In other Graco news, EVP Caroline M. Chambers sold 20,000 shares of Graco stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $46.39, for a total transaction of $927,800.00. Following the completion of the sale, the executive vice president now directly owns 42,497 shares of the company’s stock, valued at approximately $1,971,435.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William J. Carroll sold 6,000 shares of Graco stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $46.53, for a total value of $279,180.00. Following the sale, the director now directly owns 49,984 shares of the company’s stock, valued at $2,325,755.52. The disclosure for this sale can be found here. 4.23% of the stock is owned by insiders.
Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.
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