Hollow Brook Wealth Management LLC Purchases Shares of 2,531 Graco Inc. (NYSE:GGG)

Hollow Brook Wealth Management LLC bought a new stake in Graco Inc. (NYSE:GGG) during the fourth quarter, HoldingsChannel.com reports. The fund bought 2,531 shares of the industrial products company’s stock, valued at approximately $220,000.

A number of other hedge funds have also made changes to their positions in GGG. Tobam raised its stake in shares of Graco by 2,330.8% in the 4th quarter. Tobam now owns 316 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 303 shares during the period. Sound Income Strategies LLC acquired a new position in Graco during the 4th quarter worth $28,000. Fortitude Family Office LLC acquired a new position in Graco during the 4th quarter worth $29,000. Allspring Global Investments Holdings LLC grew its holdings in Graco by 3,063.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 582 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Graco by 370.7% in the 3rd quarter. Larson Financial Group LLC now owns 626 shares of the industrial products company’s stock valued at $46,000 after buying an additional 493 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Insider Buying and Selling

In related news, VP Angela F. Wordell sold 3,588 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total value of $335,836.80. Following the sale, the vice president now directly owns 12,725 shares in the company, valued at approximately $1,191,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Timothy R. White sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $92.82, for a total transaction of $232,050.00. Following the transaction, the insider now directly owns 48,282 shares of the company’s stock, valued at $4,481,535.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Angela F. Wordell sold 3,588 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total transaction of $335,836.80. Following the transaction, the vice president now directly owns 12,725 shares in the company, valued at $1,191,060. The disclosure for this sale can be found here. Insiders have sold 48,378 shares of company stock worth $4,376,528 in the last ninety days. 2.63% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GGG has been the subject of several research reports. Robert W. Baird decreased their price target on shares of Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com lowered shares of Graco from a “buy” rating to a “hold” rating in a research note on Friday. William Blair reissued a “market perform” rating on shares of Graco in a research note on Friday. Royal Bank of Canada boosted their target price on shares of Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Jefferies Financial Group boosted their price target on shares of Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. 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.com, Graco has an average rating of “Hold” and an average target price of $88.25.

Graco Stock Performance

Shares of GGG stock traded down $1.84 during midday trading on Tuesday, reaching $80.16. 789,110 shares of the company were exchanged, compared to its average volume of 673,351. The company’s 50 day moving average price is $90.91 and its two-hundred day moving average price is $85.07. Graco Inc. has a 12 month low of $69.78 and a 12 month high of $94.77. The company has a market cap of $13.56 billion, a P/E ratio of 27.64, a PEG ratio of 2.63 and a beta of 0.81.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Graco had a return on equity of 23.01% and a net margin of 23.15%. The business had revenue of $492.19 million during the quarter, compared to the consensus estimate of $536.19 million. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Graco Inc. will post 3.14 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a $0.255 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.27%. Graco’s payout ratio is currently 35.17%.

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.